Kennedy Wilson Represents Seller in $12 Million Sale of LAX Industrial Center

By: Kennedy Wilson
 
LOS ANGELES - March 3, 2015 - PRLog -- Global real estate investment and services firm Kennedy Wilson represented Watch Holdings, Ltd. in the sale of the LAX Industrial Center for $12 million to Rexford Industrial, LLC.  LAX Industrial Center is a three-building, 62,500-square-foot multi-tenant property in Los Angeles. Fred Cordova, executive vice president of Kennedy Wilson’s Brokerage Group, and Ryan Eddy, vice president, represented the seller.

“It’s rare that properties such as this – an LAX-adjacent logistic/distribution center that is suited for smaller tenants – comes on the market,” said Cordova. “Rents for smaller industrial units with dock high doors that are airport adjacent have skyrocketed making it difficult for small to medium sized companies to lock in appropriate space. This location is ideal for smaller logistics companies with dock or grade level loading door for every 2,740 square feet. As a result, we were able to achieve a high price per square foot and a great return for the buyer.”

Adjacent to the LAX airport with immediate access to the Interstates 405 and 105, the property is one of few small unit airport logistics and distribution centers in Southern California to trade hands. Built in 1994, the multi-tenant property is designed to accommodate smaller logistics companies, with 15 individual units ranging in size from 1,600 to 10,000 square feet, clear ceiling heights ranging from 16 to 20 square feet, and 24 dock high loading doors and 19 grade level doors.

The three-building asset includes 11120, 11160 and 11200 S. Hindry Ave.

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About Kennedy Wilson

Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, California, with 25 offices in the U.S., U.K., Ireland, Spain, Jersey and Japan. The company, on its own or with partners, invests opportunistically in a variety of real estate-related investments, including commercial, multifamily, loan purchases and originations, residential and hotels. Kennedy Wilson offers a comprehensive array of real estate services, including investment management, property services, auction, conventional sales, brokerage and research. For further information on Kennedy Wilson, please visit www.kennedywilson.com. (http://www.kennedywilson.com/)

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