August 29, 2016
Los Angeles-based Sierra Nevada Investment Group, Inc. acquired Bayless Engineering & Manufacturing’s buildings in Valencia, CA in a triple-net leased transaction valued at roughly $12 million. Bayless, which occupies all of the space, has been a leader in its industry sector and the Valencia business community for nearly 40 years.
The two Class A concrete-tilt-up buildings, located at 26100 and 26140 Avenue Hall, are within the Valencia Industrial Center.
Craig Lyon of Craig Lyon Commercial and Steve Calhoun at Colliers International represented the buyer. CBRE’s Craig Peters and Robert Valenziano represented the seller.
Valenziano says, “With private equity firms seeking to deploy funds in familiar and dynamic markets such as Valencia, and with 1031 exchange buyers searching for stable Class A assets anticipated to appreciate long-term, the competition for the Bayless Engineering buildings was strong.”
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