• $18,000,000

    Asking Price

  • Industrial

    Property Type

  • 63,214

    Square Feet

  • 5.25%

    Cap Rate

  • 10 Years

    WALT

  • 100%

    Occupancy

$18,000,000

Asking Price

Industrial

Property Type

63,214

Square Feet

5.25%

Cap Rate

10 Years

WALT

100%

Occupancy

Description

BACK ON MARKET

Newmark Knight Frank (NKF) is pleased to present the opportunity to acquire 6319–6321 & 6323–6421 East Alondra Boulevard in Paramount, California (the “Property”, “Project”, or “Paramount Business Park”), a 63,214-square-foot, two-building, multi-tenant industrial project located within the Los Angeles South Bay industrial submarket.

The buildings are currently 100% leased to two tenants: The United States of America General Services Administration (“GSA” or “Government”) (Moody’s: Aaa) and VNSM—an established sheet metal subcontractor operating since 1934 with an impressive resume that includes projects such as Griffith Park Observatory, Disneyland, 2028 Olympics and multiple public works contracts. The offering also includes a long-term lease of two radio tower pads to Hi-Favor Broadcasting, LLC, which broadcasts for KLTX, a radio station that has been serving greater Los Angeles since 1926. All tenants have remained current on their rental obligations throughout the pandemic, demonstrating the durability of the income stream.

The GSA has occupied Paramount Business Park since 2006 and, with more than 15.8 years of remaining lease term, they recently expanded into an additional 18,127 square feet. VNSM considers the Property their headquarters since taking occupancy in 2013 and recently renewed their commitment to the Property by extending their lease through July 31, 2023.

The Property has maintained a strong historical occupancy due to the desirable small building amenities such as high ceiling clearance, abovemarket parking, fenced yard areas, and a combination of dock-high and ground-level loading which ideally meet the demand within the submarket.

Investors will benefit from 10 years of weighted average remaining lease term from a committed tenant base and the opportunity to acquire a well-located industrial project situated on 6.41 acres in one of the most robust industrial submarkets in the nation. With a FAR of just 0.23:1, investors stand to benefit from future upside with the potential to redevelop the radio tower pads.

BACK ON MARKET

Newmark Knight Frank (NKF) is pleased to present the opportunity to acquire 6319–6321 & 6323–6421 East Alondra Boulevard in Paramount, California (the “Property”, “Project”, or “Paramount Business Park”), a 63,214-square-foot, two-building, multi-tenant industrial project located within the Los Angeles South Bay industrial submarket.

The buildings are currently 100% leased to two tenants: The United States of America General Services Administration (“GSA” or “Government”) (Moody’s: Aaa) and VNSM—an established sheet metal subcontractor operating since 1934 with an impressive resume that includes projects such as Griffith Park Observatory, Disneyland, 2028 Olympics and multiple public works contracts. The offering also includes a long-term lease of two radio tower pads to Hi-Favor Broadcasting, LLC, which broadcasts for KLTX, a radio station that has been serving greater Los Angeles since 1926. All tenants have remained current on their rental obligations throughout the pandemic, demonstrating the durability of the income stream.

The GSA has occupied Paramount Business Park since 2006 and, with more than 15.8 years of remaining lease term, they recently expanded into an additional 18,127 square feet. VNSM considers the Property their headquarters since taking occupancy in 2013 and recently renewed their commitment to the Property by extending their lease through July 31, 2023.

The Property has maintained a strong historical occupancy due to the desirable small building amenities such as high ceiling clearance, abovemarket parking, fenced yard areas, and a combination of dock-high and ground-level loading which ideally meet the demand within the submarket.

Investors will benefit from 10 years of weighted average remaining lease term from a committed tenant base and the opportunity to acquire a well-located industrial project situated on 6.41 acres in one of the most robust industrial submarkets in the nation. With a FAR of just 0.23:1, investors stand to benefit from future upside with the potential to redevelop the radio tower pads.

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Pricing

  • Asking Price$18,000,000
  • Price PSF$284
  • WALT10 Years
  • Cap Rate5.25%
  • NOI$944,800
  • Investment Period10 Years

Details

  • Property TypeIndustrial
  • Property StatusOn Market
  • Square Feet63,214
  • Year Built1985/1984
  • Year Renovated2020
  • Building ClassB
  • Building(s)2
  • Stories1
  • Parking Ratio4.19/1,000
  • Acres6.41
  • ZoningPA M2
  • APN6239-002-008, 9, 10
  • TenancyMulti
  • Tenant(s)3
  • Occupancy100%
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Offering Summary

Pricing

  • Asking Price$18,000,000
  • Price PSF$284
  • WALT10 Years
  • Cap Rate5.25%
  • NOI$944,800
  • Investment Period10 Years

Details

  • Property TypeIndustrial
  • Property StatusOn Market
  • Square Feet63,214
  • Year Built1985/1984
  • Year Renovated2020
  • Building ClassB
  • Building(s)2
  • Stories1
  • Parking Ratio4.19/1,000
  • Acres6.41
  • ZoningPA M2
  • APN6239-002-008, 9, 10
  • TenancyMulti
  • Tenant(s)3
  • Occupancy100%

Deal Team

Sean Fulp

Executive Managing Director

CA RE Lic. #01389064

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Ryan Plummer

Managing Director

CA RE Lic. #01765854

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Mark Schuessler

Director

CA RE Lic. #02033871

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Ryan Tetrault

Associate

CA RE Lic. #01996711

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