78.5 F
San Fernando
Tuesday, Nov 5, 2024

Amazon-Leased Warehouse in Moorpark Sells for Nearly $51 Million

A warehouse in Moorpark leased to Amazon.com Inc. has traded for $50.7 million.

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

CBRE Group’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.

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.

Featured Articles

Related Articles