El Segundo, CA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, is pleased to announce the sale of 7437 Scout Ave. in Bell Gardens, CA for $9.2M. The sale was the highest price point for a single property industrial deal in Bell Gardens in the last two years (CoStar). Associate, Samuel Tobias, and Senior Director of Industrial, Alexander Harrold, brokered the transaction.
The industrial property features a 19,415 square foot facility on 3.4-acres of land outside of downtown Los Angeles, with immediate access to the I-5 and I-710 freeways and proximity to LAX. E-commerce demand coupled with port congestion has resulted in strong growth in leasing activity in the area in recent months.
“Our team has extensive experience navigating the complexities of a dynamic deal with tight deadlines and several moving parts,” said Associate Samuel Tobias. “This allowed us to tackle all obstacles we faced while brokering the transaction.”
The seller, a private client, was motivated by a desire to move his assets out of California. The buyer, CenterPoint Properties was able to acquire a rare 3.4-acre industrial outdoor storage with rental upside, that was a perfect fit for their existing Los Angles portfolio.
“We got this deal across this finish line thanks to existing institutional relationships created and maintained through our shared database,” said Senior Director of Industrial Alexander Harrold. “Matthews™ proprietary database enabled us to internally source the buyer at the seller’s asking price off-market.”
For more information regarding this sale or if you have any other questions related to industrial investment assets, please do not hesitate to reach out to Samuel Tobias and Alexander Harrold. To view current listings, please visit www.matthews.com.
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales and leasing. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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