January 14, 2019
An 18,724-square-foot warehouse facility in La Verne, CA has sold for $3.7 million. The buyer was One Investment, LLC, while the seller was Morris Ventures, Inc.
The property is located at 1747 Wright Ave. within La Verne Business Park. Built in 1990, the single-story warehouse facility features 5,000 square feet of mezzanine office space, dock high and ground level loading, 22-foot ceiling heights and 400 Amps / 480 Volts of power.
The project is 100% leased to VaCom Technologies, a subsidiary of Bitzer Worldwide, the world’s largest independent refrigeration compressor manufacturer. The tenant has been in the building for more than 20 years, and has four years remaining on the lease.
NAI Capital’s Arvin Poblete, who represented the buyer, says, “This investment presented my client with the opportunity to get into a market with high barriers to entry. With industrial product in short supply and land limited for new construction, this was a solid investment for my client.”
For comments, questions or concerns, please contact Dennis Kaiser