Mark Esses and Keith Kleinman, agents at California Realty Group, provided guidance to NBP 9401 De Soto, LLC in the sale of a warehouse/distribution facility located in Chatsworth. The property was acquired by Center Capital Partners, Authentic Capital Group and TPG Angelo Gordon for $41.5 million. This industrial building spans 150,831 square feet and is fully leased.
Thanks to the efforts of California Realty Group, eight offers were received within the first ten days of listing and it ultimately sold for $1 million above asking price. The buyers were represented by Michael Longo, Barbara Perrier and Bennett Robinson from CBRE.
According to Longo: “It’s not often that we see buildings with a clearance height of 30 feet being traded in San Fernando Valley.” He also added that due to limited new supply in the area this property presents an attractive investment opportunity with low risk as it currently has strong cash flow with potential for increased income when leases expire.
In 2017 Mark Esses helped NBP 9401 De Soto LLC purchase this same property from Rexford Industrial for $17 million when it was vacant. Under his marketing efforts he successfully leased out all units before selling again recently stating: “Given today’s challenging market conditions I am pleased that both buyer and seller showed great understanding during this transaction.”
