A nearly 40,000-square-foot industrial building at 167 W. Cochran Street in Simi Valley has sold for $7.3 million.
Bennett Robinson of CBRE represented the seller, Los Angeles-based real estate company Overton Moore Properties. The buyer, San Fernando Valley-based Nadavco LLC, was represented by Sam Wagner of Told Partners and Chris Swatosh of Pacific Partners Commercial Inc.
Nadavco will also occupy the 37,050 square-foot building – the last to sell at a four-building industrial business campus. It features 5,000 square feet of office space, a storage yard, four loading docks, ample truck loading and a 28-foot clearance.
“Opportunities such as this premier 8.5-acre industrial site in Ventura County do not come by often,” said Robinson. “Its accessibility to several submarkets makes it a prime location.”
Class A industrial space has been scarce, driving lease rates up 3.8 percent year over year in the second quarter. According to Robinson, tenant renewals plus the e-commerce industry, which has aggressively acquired facilities for last-mile and other distribution purposes, have further driven out vacancies in the region’s industrial sector.