{"id":1004555831,"date":"2021-10-27T04:22:43","date_gmt":"2021-10-27T12:22:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004555831"},"modified":"2022-12-08T22:39:10","modified_gmt":"2022-12-09T06:39:10","slug":"amazon-leased-la-warehouse-sells-for-128m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/","title":{"rendered":"Amazon-Leased LA Warehouse Sells for $128M"},"content":{"rendered":"
\"\"<\/a>

400 National. Image courtesy of Newmark<\/p><\/div>\n

A family office investment company acquired a delivery facility in Simi Valley, Calif., for $128 million. Greenlaw Partners sold 400 National less than a year after it was converted from an office property.<\/p>\n

Newmark Executive Managing Directors Bret Hardy, Jim Linn, Andrew Briner and Ken White, together with Co-Head of U.S. Capital Markets Kevin Shannon, negotiated the transaction on behalf of the seller.<\/p>\n

\n

READ ALSO: <\/strong>Industrial Keeps Trajectory<\/a><\/p>\n

\n

Last year, Greenlaw Partners acquired the 290,220-square-foot office building\u2014formerly occupied by Bank of America\u2014and converted it to industrial use. According to CommercialEdge, Amazon occupies the entire building.<\/p>\n

The last-mile facility sits on a 43.6-acre lot, at 400 National Way, adjacent to State Route 116. The seller invested approximately $17 million to redevelop the property, according to the company website. Originally constructed in 1984 as an office structure, the building renovation included modifications to fit Amazon\u2019s needs, including six dock-high and seven grade-level loading doors, with van staging areas.<\/p>\n

The tenant also invested capital to add further improvements and accommodate more workers. In August, ConstructionReview <\/em>reported that Amazon intends to add roughly 300 jobs to the Simi Valley facility.<\/p>\n

Industrial continues its strong trajectory<\/h2>\n

Last-mile warehouses are trading at a premium in markets like Los Angeles, where land constraints, coupled with the current supply chain crisis,<\/a> are raising the value of such properties. In a prepared statement, Shannon said that the sale is further evidence of significant cap rate compression for net leased space, a compression aided by an attractive debt market for industrial properties.<\/p>\n

Amazon\u2019s last-mile warehouse traded at roughly $441.3 per square foot, more than double the average recorded in year-to-date industrial sales through September\u2014$210.7 per square foot\u2014in metro Los Angeles, CommercialEdge data shows.<\/p>\n

In September, industrial vacancy in Los Angeles reached 3.0 percent, one of the lowest in the country. The national average was 5.7 percent, while the neighboring Inland Empire market continued to have the lowest industrial vacancy, at 1.1 percent in September, according to the same data provider.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property traded at more than double the market’s average price per square foot. <\/p>\n","protected":false},"author":1284,"featured_media":1004555845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21748,21783,1594,21742,15],"tags":[37482,36000,50999],"class_list":["post-1004555831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-amazon","tag-greenlaw-partners","tag-newmark"],"acf":[],"yoast_head":"\nAmazon-Leased LA Warehouse Sells for $128M - 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\/amazon-leased-la-warehouse-sells-for-128m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon-Leased LA Warehouse Sells for $128M\" \/>\n<meta property=\"og:description\" content=\"The property traded at more than double the market's average price per square foot.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-27T12:22:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T06:39:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"902\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/\",\"name\":\"Amazon-Leased LA Warehouse Sells for $128M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg\",\"datePublished\":\"2021-10-27T12:22:43+00:00\",\"dateModified\":\"2022-12-09T06:39:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg\",\"width\":1200,\"height\":902,\"caption\":\"400 National Way. Image courtesy of Newmark\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Amazon-Leased LA Warehouse Sells for $128M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\",\"name\":\"Tudor Scolca\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96\",\"caption\":\"Tudor Scolca\"},\"description\":\"Tudor Scolca-Seu\u0219an is an Associate Editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. He is responsible for data center and industrial coverage on CPE, writing seasonal metro reports on multifamily, interviews and features, as well as occasionally editing news stories.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/tudor-scolca\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Amazon-Leased LA Warehouse Sells for $128M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/","og_locale":"en_US","og_type":"article","og_title":"Amazon-Leased LA Warehouse Sells for $128M","og_description":"The property traded at more than double the market's average price per square foot.","og_url":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-10-27T12:22:43+00:00","article_modified_time":"2022-12-09T06:39:10+00:00","og_image":[{"width":1200,"height":902,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg","type":"image\/jpeg"}],"author":"Tudor Scolca","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/","url":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/","name":"Amazon-Leased LA Warehouse Sells for $128M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg","datePublished":"2021-10-27T12:22:43+00:00","dateModified":"2022-12-09T06:39:10+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg","width":1200,"height":902,"caption":"400 National Way. Image courtesy of Newmark"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/amazon-leased-la-warehouse-sells-for-128m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Amazon-Leased LA Warehouse Sells for $128M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d","name":"Tudor Scolca","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96","caption":"Tudor Scolca"},"description":"Tudor Scolca-Seu\u0219an is an Associate Editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. He is responsible for data center and industrial coverage on CPE, writing seasonal metro reports on multifamily, interviews and features, as well as occasionally editing news stories.","url":"https:\/\/www.commercialsearch.com\/news\/author\/tudor-scolca\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/400-National-Way.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004555831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1284"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004555831"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004555831\/revisions"}],"predecessor-version":[{"id":1004555895,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004555831\/revisions\/1004555895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004555845"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004555831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004555831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004555831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}