Vital Statistics (SALE)
Property Address: 3629, 3735, 3931 & 3963 Workman Mill Road, Whittier
Square Footage: 989,195
Deal Value: $ 296,600,000
CBRE announced that Gateway Pointe, an industrial campus in Whittier, sold to Los Angeles-based industrial real estate investment firm Rexford Industrial for $296.6 million, or $300 per square foot.
Darla Longo, Barbara Perrier, Rebecca Perlmutter, Brett Hartzell, Joe Cesta and Eric Cox of CBRE represented the seller. Seattle-based investment firm Washington Capital Management, Inc. worked on behalf of one of its account clients in the transaction. Rexford was self-represented. Located at 3629, 3735, 3931 & 3963 Workman Mill Road, the 989,195 square-foot Class-A property was originally constructed in 2006. Gateway Pointe was fully leased at the time of sale to three tenants, including fashion company Michael Kors and logistics companies DHL and JUSDA. The property features 30’ clear heights, gated truck court and fully secured yard. Gateway Pointe is less than two miles from the interchange between I-605 and SR-60, two major freeways that connect Whittier to the rest of Southern California.
Vital Statistics (SALE)
Property Address: 16130-16320 Stagg Street, 7817-7877 Woodley Avenue, 16216-16270 Raymer Street, 16301-16345 Raymer Street, 8045 Woodley Avenue, Van Nuys
Square Footage: 463,366
Deal Value: $154,000,000
Newmark’s John DeGrinis, Patrick DuRoss and Jeff Abraham represented both the buyer and seller in the $154.6 million sale of this premier business park. The business park totals 19 buildings, spanning 426,466 square feet. This was a record valuation in terms of both price per square foot and yield. The Daily family had owned the property since the 1930s. The property is unique in that four generations of the family had owned and managed the property until it was sold in December 2020. Team DeGrinis has worked with the Daily family since 2010.
