PRESS RELEASE: Industrial Building Sold for $19.8 Million
PRESS RELEASE | 12821 Knott Street, Garden Grove, CA 92841
Real estate investment trust company, Rexford Industrial Realty, Inc., has acquired a 120,800 SF industrial building at 12821 Knott St., located in Garden Grove.
The value-add property sold for $19.8 million, or $164/SF, and was funded using cash on hand.
The value-add property sold for $19.8 million, or $164/SF, and was funded using cash on hand.
The Seller's broker, Dave Dilday of Pacific Coast Commercial stated, "the Buyer purchased the building with the intent to add an additional 45,000+ SF of new warehouse space to attract a tenant interested in warehouse, manufacturing and distribution in a very strong location off the Garden Grove Freeway (CA-22) at the Knott Ave exit.”
The high-visibility, freeway frontage property is situated on 6.97 acres of land and is currently vacant.
Seller Representation: Dave Dilday, Pacific Coast Commercial
Seller Name: Brutten/Reynolds, LLC
Buyer Representation: Clyde Stauff, Colliers International
Buyer Name: Rexford Industrial Realty, L.P
Escrow Company: Commerce Escrow
Title Company: Fidelity
Financing: Cash
Agent Contact Information:
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