{"id":1004191660,"date":"2017-09-28T09:25:42","date_gmt":"2017-09-28T17:25:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004191660"},"modified":"2022-12-07T02:38:54","modified_gmt":"2022-12-07T10:38:54","slug":"la-basin-land-site-sells-with-an-existing-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-basin-land-site-sells-with-an-existing-lease\/","title":{"rendered":"LA Basin Land Site Sells With an Existing Lease"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004191663\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/5265-4th-St-Irwindale.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004191663\" data-attachment-id=\"1004191663\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/la-basin-land-site-sells-with-an-existing-lease\/5265-4th-st-irwindale\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/5265-4th-St-Irwindale.png\" data-orig-size=\"933,726\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"5265 4th St, Irwindale\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;5265 4th Street, Irwindale, California&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/5265-4th-St-Irwindale.png?w=933\" loading=\"lazy\" class=\"wp-image-1004191663 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/5265-4th-St-Irwindale.png\" alt=\"5265 4th Street, Irwindale, California\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/5265-4th-St-Irwindale.png 933w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/5265-4th-St-Irwindale.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/5265-4th-St-Irwindale.png?resize=768,598 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004191663\" class=\"wp-caption-text\">5265 4th Street, Irwindale, California<\/p><\/div>\n<p>In a $9.8 million deal, Harrison Nichols Co. sold an 8.9-acre land site in Irwindale, Calif., to industrial developer CentralPoint Properties. DAUM Commercial Real Estate Services arranged the sale on behalf of Harrison Nichols, while JLL represented the buyer.<\/p>\n<p>The property at 5265 4<sup>th<\/sup> St. belonged to Harrison Nichols Co. for more than 40 years, and is currently leased to United Parcel Service (UPS) for vehicle storage. The buyer, CenterPoint Properties, will benefit from the site\u2019s existing lease and its long-term goals include additional <a href=\"https:\/\/www.commercialsearch.com\/news\/dedeaux-breaks-ground-on-la-industrial-campus\/\">industrial development<\/a>. Until then, the existing lease with UPS will supplement the cost of the site.<\/p>\n<p><em>\u201cBy securing this lease, we were able to offer buyers the opportunity to purchase\u00a0<\/em><em>one of the few available parcels of land in the highly-developed and desirable Los Angeles Basin with the added benefit of an in-place lease with a Fortune 100 company,\u201d<\/em> said Dennis Sandoval, executive vice president of DAUM Commercial, in prepared remarks.<\/p>\n<p><em>Image courtesy of Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harrison Nichols Co. sold the 8.9-acre land in Irwindale, Calif. The buyer benefits from an existing lease with UPS. <\/p>\n","protected":false},"author":871,"featured_media":1004191663,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1594,21742,15],"tags":[34824,32796],"class_list":["post-1004191660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-daum-commercial","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LA Basin Land Site Sells With an Existing Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/la-basin-land-site-sells-with-an-existing-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LA Basin Land Site Sells With an Existing Lease\" \/>\n<meta property=\"og:description\" content=\"Harrison Nichols Co. sold the 8.9-acre land in Irwindale, Calif. 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