{"id":514,"date":"2021-04-01T07:48:24","date_gmt":"2021-04-01T07:48:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/blog\/?p=514"},"modified":"2025-11-12T12:38:39","modified_gmt":"2025-11-12T12:38:39","slug":"los-angeles-suburban-industrial-space-sale-74mil","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/los-angeles-suburban-industrial-space-sale-74mil\/","title":{"rendered":"Amazon-Occupied Los Angeles Warehouse Sells for $74 Million"},"content":{"rendered":"<p>A 223,131-square-foot warehouse in Chatsworth, Calif., traded for $74 million on Monday. Boston-based Intercontinental Real Estate paid roughly $331.60 per square foot to Xebec Realty Partners for two Class B buildings at 20730 Prairie St. CBRE\u2019s Darla Longo and Barbara Perrier represented the seller.<\/p>\n<p>The 13-acre property\u2014located 35 miles northwest of downtown Los Angeles\u2014is fully leased to Amazon, making it a highly attractive industrial asset in the region. In fact, given the boom of online shopping throughout 2020, and the continued drive to shorten delivery times to consumers, Los Angeles industrial space occupied by distribution giants such as Amazon has become one of the most secure commercial real estate investments.<\/p>\n<p>Xebec had acquired the <a href=\"https:\/\/www.commercialsearch.com\/industrial\/us\/ca\/los-angeles\/\" target=\"_blank\" rel=\"noopener\">Los Angeles warehouse and distribution facility<\/a> three years prior. In late 2018, Xebec purchased the <a href=\"https:\/\/therealdeal.com\/la\/2021\/03\/30\/amazon-leased-warehouse-sells-for-74m\/amp\/\" target=\"_blank\" rel=\"noopener nofollow\">former manufacturing facility from Ball Corp. for $37 million<\/a>, or roughly $165.80 per square foot. Subsequently, the Dallas-based company renovated and repositioned the space and signed Amazon to the tenant roster. Arguably, the investment paid off, as the value of 20370 Prairie St. doubled during that time. Built in 1975, the warehouse has undergone several redevelopments throughout the years. It now features 30-foot clear heights; two grade-level and seven dock-high loading doors; fire sprinklers; and rail doors. And, most important for an Amazon \u201clast-mile\u201d delivery facility, the property is well connected regionally, with easy access to state routes 118, 27 and 101, as well as the I-405, which allows the tenant to reach roughly 12 million people residing within a 50-mile radius.<\/p>\n<p>This acquisition marks Intercontinental\u2019s first beachhead in Los Angeles County. Jessica Levin, head of Intercontinental\u2019s West Coast office, also stated regarding the unique local advantages of this asset: \u201cOnly a small percentage of the industrial inventory in the San Fernando Valley are buildings over 100,000 square feet, and the majority of those are older product.\u201d<\/p>\n<p>This deal expands the company\u2019s 2-million-square-foot West Coast portfolio, which already includes 6300 Wilshire, Apollo at Rosecrans, and Burbank Connexion. Nationwide, Intercontinental assets consist of some\u00a0<a href=\"https:\/\/www.bizjournals.com\/losangeles\/news\/2021\/03\/29\/intercontinental-real-estate-la-industrial-amazon.html\" target=\"_blank\" rel=\"noopener\">29 million square feet of commercial properties<\/a>\u00a0\u2013 including industrial and <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/il\/chicago\/\" target=\"_blank\" rel=\"noopener\">office space in Chicago<\/a>, Boston and the Bay Area \u2013 as well as 12,000 multifamily units.<\/p>\n<figure id=\"attachment_515\" aria-describedby=\"caption-attachment-515\" style=\"width: 720px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2021\/04\/20730-Prairie-Street-Chatsworth-CA-warehouse-space.jpg\" data-rel=\"lightbox-image-0\" data-magnific_type=\"image\" data-rl_title=\"\" data-rl_caption=\"\" title=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-515 lazyload\" src=\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2021\/04\/20730-Prairie-Street-Chatsworth-CA-warehouse-space.jpg\" alt=\"20730 Prairie Street, Chatsworth, CA\" width=\"720\" height=\"576\" data-srcset=\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2021\/04\/20730-Prairie-Street-Chatsworth-CA-warehouse-space.jpg 1000w, https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2021\/04\/20730-Prairie-Street-Chatsworth-CA-warehouse-space.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2021\/04\/20730-Prairie-Street-Chatsworth-CA-warehouse-space.jpg?resize=768,614 768w\" sizes=\"auto\" \/><\/a><figcaption id=\"caption-attachment-515\" class=\"wp-caption-text\"><em>20730 Prairie Street, Chatsworth, CA<\/em><\/figcaption><\/figure>\n<div id=\"highlighter--hover-tools\" style=\"display: none;\">\n<div id=\"highlighter--hover-tools--container\">\n<div class=\"highlighter--icon highlighter--icon-copy\" title=\"Copy\"><\/div>\n<div class=\"highlighter--separator\"><\/div>\n<div class=\"highlighter--icon highlighter--icon-change-color\" title=\"Change Color\"><\/div>\n<div class=\"highlighter--separator\"><\/div>\n<div class=\"highlighter--icon highlighter--icon-delete\" title=\"Delete\"><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Intercontinental Real Estate Corp. makes its first foray into the Los Angeles industrial real estate market, with the acquisition of a fully-leased last-mile distribution facility in Chatsworth.<\/p>\n","protected":false},"author":56,"featured_media":516,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,2],"tags":[],"class_list":["post-514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-industrial-real-estate-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Intercontinental RE Buys Los Angeles Distribution Space | CommercialSearch<\/title>\n<meta name=\"description\" content=\"Recent acquisition of fully leased &quot;last-mile&quot; Los Angeles warehouse and distribution space doubles property value in three years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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