A multi-tenant industrial building in Santa Clarita sold in an all-cash 1031 exchange for about $3.7 million.
The property at 26858 Ruether Ave. sits on 46,609 square feet of land. Spectrum Commercial Real Estate Senior Vice President Andrew Ghassemi and Executive Managing Director Yair Haimoff represented the undisclosed buyer.
“The speed of this transaction demonstrates our market advantage, by utilizing our proprietary system and local relationships to execute timely requirements,” Ghassemi said in a statement. “This property has never been on the market, as it was originally constructed by the seller’s family – a perfect example of what seasoned investors look for.”
The property features nine industrial or automotive units, with a total of 16,744 square feet.