Prologis, the global leader in logistics real estate, has purchased an 85,000 square foot industrial facility set on 11.24 acres in Commerce, California. Kidder Mathews commercial real estate brokers, Jon Reno, SIOR, CCIM, Trevor Gale, SIOR, Mark Vanis, and Connor Ulf, represented Prologis in the transaction.
The property is located at 2420 Yates Avenue, close to a densely populated area. It is rare for low coverage 11-acre sites to become available in this market.
“The site at Yates Avenue is an exceptional find and we worked quickly with Prologis to capitalize on this off-market transaction,” said Reno.
“With the vacancy rate at 2% in the central submarket, demand is strong for high-quality industrial real estate. Located minutes from downtown Los Angeles, the site at Yates Avenue provides immediate access to Interstate 5, the 710 Freeway, and the highly dense urban core. In addition, it offers long-term opportunities for flexible building design and multiple uses,” said Darren Kenney, vice president and investment officer, Prologis.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 800 real estate professionals and staff in 22 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9 billion in transactions, manages over 55 million square feet of space, and conducts over 1,600 appraisals annually. For more information, visit kidder.com.