Jason DuFault, regional managing director at KW Commercial, successfully facilitated the sale of a 31,373-square-foot industrial property in Santa Fe Springs for $10.515 million. The vacant facility was built in 1969 and sits on a spacious 2.45-acre lot at 14930 Marquardt Ave.
The heavy manufacturing facility boasts features such as a large truck parking area and approximately one acre of excess land. DuFault represented the seller and former occupier, Equipment Manufacturing Company, while Phillip DeRousse from Lee & Associates represented the buyer Fortress Investment Group LLC.
Although plans for the asset have not yet been announced by its new owners, some form of renovation or repositioning is expected to take place.
According to DuFault: “This property sold for an impressive $335 per square foot – making it one of top five highest valued industrial properties sold in this submarket within the last three months.” He also noted that investors were drawn to its prime location within Los Angeles’ bustling industrial market as well as its ample outdoor storage space and parking areas along with office space options and loading docks.
