Two Amazon Sites Trade at High Prices

 A pair of North Los Angeles properties leased out by Amazon.com Inc. have each sold in the $50 million range.

The Moorpark site of an Amazon warehouse has traded for $50.7 million.

According to a Real Deal report, a partnership of Transwestern Development, CalSTRS and Principal Real Estate Investors sold the 202,421-square-foot warehouse to American Realty Advisors.

CBRE’s Barbara Perrier, Darla Longo and Bennett Robinson represented Transwestern in the transaction.

Located at 6000 Condor Drive, the warehouse was built in 1988. Transwestern and its partners bought the building with a vacant 2.5 acres for parking in 2018 and redeveloped it. 

Amazon signed a lease at the site last July and will use it as a last-mile distribution center.

The purchase signifies a pivot for American Realty Advisors, which typically invests in multifamily and office.

Earlier this month, a newly renovated warehouse in Palmdale leased to Amazon was sold by Greenlaw Partners to Exan Capital for $59.7 million.

Greenlaw Partners, which had acquired the 130,392-square-foot property for $15 million in February 2020, renovated it with extensive upgrades.

Located at 600 W. Technology Drive on nearly 27 acres of land, the property was listed by Cushman & Wakefield’s Mike Adey, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Brad Brandenburg and Matt Leupold.