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Saturday, Dec 3, 2022
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Pomona Industrial Asset Sells

A 182,275 square-foot industrial building in Pomona sold for $45.9 million.
The property, located at 159 N. San Antonio Ave., is situated on 8.48 acres of land and is 100% occupied.

San Diego-based Stos Partners represented itself as the seller in the transaction. Jeffrey Cole, Jeffrey Chiate, Bryce Aberg, Brad Brandenburg, Mike Adey, and Zachary Harman of Cushman & Wakefield represented the undisclosed buyer in the transaction.

159 N. San Antonio Ave.

“As a highly active buyer in Southern California, our firm leveraged its close relationships with local brokers to acquire this asset in 2021,” CJ Stos, principal at Stos Partners, said in a statement. “Upon a successful year of ownership, we were able to capitalize on the strong market demand for industrial space in Los Angeles County and secure a premium sale price for this property.”

The company purchased the property for $21 million last year. Demand for well-situated industrial space in the market has skyrocketed since 2021, with warehouse properties commanding a 63% higher sales price point in the second quarter compared to the previous quarter, according to Stos Partners.

“This quarter, we have seen vacancy levels (at) an all-time low in Los Angeles,” Tanner Jansen, vice president of acquisitions at Stos Partners, said in a statement. “At a vacancy rate of 0.9%, the second lowest in the U.S., Los Angeles continues to appeal to both users and owners. This asset offers the buyer immediate cash flow and long-term value creation opportunities over the next several years.”

Jay Boyle, executive vice president at Stos, added, “Given the fierce competition and scarce inventory available for amenitized, well-located industrial properties in the Los Angeles region, the move to sell this asset was a strategic and well-planned initiative for our firm. We identified an excellent opportunity to benefit from the ongoing growth of this market and the property’s multitude of attributes.”

Paola Mendez
Paola Mendez
Paola Mendez graduated from Los Angeles Valley College, then transferred to University of California, and now serves as a Receptionist and Office Assistant to the Los Angeles Business Journal. Paola wears many hats in different departments and is trilingual in English, Spanish and French.
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