June 27, 2016
Newmark Grubb Knight Frank (NGKF) completed a $4.2-million sale of a 24,128-square-foot industrial warehouse building in Tustin, CA. The asset was built in 1976 and is located at 14401 Franklin Ave.
The buyer, 14401 Franklin Ave LLC, plans to use the space for general industrial and distribution purposes and will renovate it for use as an industrial warehouse building.
NGKF’s Byron Foss, Nick Carey, and Wade Tift represented the seller, Brian Bennett Revocable Trust. Lee & Associates represented the buyer.
NGKF’s Foss says, “We identified a buyer that offered terms favorable to the seller which included a quick, 30-day all-cash closing.”