{"id":1004633135,"date":"2022-11-29T07:46:34","date_gmt":"2022-11-29T15:46:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004633135"},"modified":"2022-12-09T02:44:51","modified_gmt":"2022-12-09T10:44:51","slug":"focus-real-estate-jv-buys-la-area-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/","title":{"rendered":"Focus Real Estate JV Buys LA-Area Industrial Asset"},"content":{"rendered":"
\"\"<\/a>

19449 Walnut Drive S.-1180 Wright Way. Image courtesy of DAUM Commercial<\/p><\/div>\n

Focus Real Estate<\/strong>, in a joint venture with Long Wharf Capital<\/strong>, has acquired a 95,745-square-foot industrial park in City of Industry, Calif., for $30.8 million. The previous owner was Nobbs Family Foundation<\/strong>, CommercialEdge data shows.\u00a0DAUM Commercial<\/strong> assisted the buyer, while the seller represented itself in the off-market transaction.<\/p>\n

The four-building industrial park came online in 1973 at 19501 E. Walnut Drive S., 1180 Wright Way, 1170 Wright Way and 19449 E. Walnut Drive S.. The Class B asset features up to 24-foot clear heights, dock-high and ground level doors, as well as ample parking.<\/p>\n

The property was fully leased at the time of sale, its roster including Digi Ecity Inc. and Black Series Campers, among others. The location is approximately 7 miles from downtown City of Industry and 25 miles from Los Angeles, just south of Freeway 60.<\/p>\n

The DAUM team included Executive Vice President Anthony Bergeman, Associates Krishna Shegran and Michael Chase, alongside Executive Vice President Charles Johnson and Vice President Joseph Harmon.<\/p>\n

City of Industry, a magnet for industrial investors and users<\/h2>\n

Demand for industrial space in Los Angeles is still strong, influencing increases of in-place rents<\/a>,. Bergeman said, in a prepared statement, that investors and users eye City of Industry in particular, as it serves as San Gabriel Valley\u2019s economic hub and consists almost entirely of industrial properties.<\/p>\n

According to DAUM\u2019s third quarter market report on the San Gabriel Valley industrial market, the sales volume, totaling $441.5 million, was 8.8 percent higher over the quarter, while the median price was up 5 percent, reaching $302 per square foot.\u00a0In one of these transactions, EverWest Advisors paid $45.9 million for a 182,275-square-foot industrial building<\/a> in Pomona, Calif.<\/p>\n","protected":false},"excerpt":{"rendered":"

The San Gabriel Valley property traded for nearly $31 million.<\/p>\n","protected":false},"author":2829,"featured_media":1004633136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1594,21742,15],"tags":[34824,34931],"class_list":["post-1004633135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-daum-commercial","tag-long-wharf-capital"],"acf":[],"yoast_head":"\nFocus Real Estate JV Buys LA-Area Industrial Asset - CPE<\/title>\n<meta name=\"description\" content=\"A joint venture between Focus Real Estate and Long Wharf Capital acquired a 95,745-square-foot industrial park in City of Industry, Calif.\" \/>\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\/focus-real-estate-jv-buys-la-area-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Focus Real Estate JV Buys LA-Area Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"A joint venture between Focus Real Estate and Long Wharf Capital acquired a 95,745-square-foot industrial park in City of Industry, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/\" \/>\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=\"2022-11-29T15:46:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:44:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/76-02462-19449-Walnut-Dr-1180-Wright-Way-e1669727595152.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1023\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\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\/focus-real-estate-jv-buys-la-area-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/\",\"name\":\"Focus Real Estate JV Buys LA-Area Industrial Asset - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/76-02462-19449-Walnut-Dr-1180-Wright-Way-e1669727595152.jpg\",\"datePublished\":\"2022-11-29T15:46:34+00:00\",\"dateModified\":\"2022-12-09T10:44:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"A joint venture between Focus Real Estate and Long Wharf Capital acquired a 95,745-square-foot industrial park in City of Industry, Calif.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/focus-real-estate-jv-buys-la-area-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/76-02462-19449-Walnut-Dr-1180-Wright-Way-e1669727595152.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/76-02462-19449-Walnut-Dr-1180-Wright-Way-e1669727595152.jpg\",\"width\":1023,\"height\":768,\"caption\":\"19449 Walnut Dr-1180 Wright Way. 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