Avison Young has successfully closed the sale of a 1.41-acre industrial outdoor storage (IOS) property in Los Angeles for $2.68 million. The site, located at 943 N. Marianna Ave., is strategically positioned just east of downtown LA with easy access to major freeways such as the 10, 710, and 60.
The seller, a family trust, was represented by Principal Patrick Barnes and Senior Associate Paul Clark while the buyer Cypress Equity Investments handled their own representation.
According to Barnes, their team’s targeted marketing efforts towards the self-storage industry resulted in securing maximum land value for their client. He also noted that Cypress’ expertise in construction played a crucial role in this transaction due to the challenging nature of developing on this site.
This recent deal marks another successful redevelopment project into self-storage facilities within Los Angeles’ thriving real estate market.
