Matthew Artukovich, a senior vice president of Lee & Associates-Commerce, Inc., represented the seller, O’Rourke & Sullivan LLC. The buyer, 1875 22nd St LLC., was represented by Major Properties.
The 1960-built industrial building has six truck-high loading positions and 17 to 20-foot ceiling clearance. The buyer intends to operate their garment business there.
“We received nine purchase offers for this property,” said Artukovich. “This demonstrates the increasing demand and lack of supply for dock-high buildings in the 50,000-square-
The sale comes on the heels of two other significant industrial deals out of the Commerce office. In May, Artukovich also secured the property at 2930 E 44th St. in Vernon, Calif. for the buyer after outbidding five other buyers. The warehouse featured six truck-high positions and a large concrete yard, but needed a new roof and office upgrade. Both Matthew Artukovich and Doug Cline represented the buyer, Reflex Jeans, and the seller, JP Morgan Chase Bank. The Commerce office also sold the 401,587-square-
Artukovich added, “We have seen a small pickup in industrial demand this year compared to the past few years, and the southern California low vacancy rate has made some properties competitive amongst buyers despite the lackluster economy.”
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