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Tuesday, Nov 5, 2024

Camarillo Industrial Building Sells for $6.5 Million

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

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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