A single-tenant warehouse property has sold in Camarillo for $6.5 million.
Located at 1040 Avenida Acaso, the 40,000-square-foot property features warehouse and manufacturing space, 8,000 square feet of office, 22-foot clear height and 75 parking stalls, all situated on a little more than 2 acres.
The single-tenant property is currently leased to radiation protection supplier Infab Corp. under a new, long-term, triple-net lease.
Bob Boyer and Michael Slater of CBRE Group represented the seller, Deezco LLC, a private entity, in the transaction while CBRE’s Fred Aframian and Ryan Lin represented the undisclosed buyer.
“This property offered the buyer a rare opportunity to acquire an asset with a new long-term commitment by the tenant, little management requirements and a long-term cash flow in a desirable commercial area of Camarillo,” Boyer said in a statement.
According to CBRE data, the Greater Los Angeles industrial market ended the year on a high note, with 3.9 million square feet of positive absorption in fourth quarter. The average monthly asking lease rate increased by a cent quarter over quarter to 92 cents per square foot.
Elsewhere in Camarillo, earlier this week Los Angeles-based Oaktree Capital Management announced it acquired a pair of industrial buildings at 3001 and 3175 Mission Oaks Blvd. for $154 million