CBRE Announces $38 Million Sale of 184,778-Square-Foot Industrial Property in City of Industry, California

CBRE has announced the sale of a 184,778-square-foot industrial property at 705 Baldwin Park Blvd, City of Industry, California. The property, which is fully leased to Cenveo, the nation's largest envelope manufacturer, was acquired by Safco Capital Corporation for $38 million.

Barbara Perrier and Eric Cox with CBRE National Partners West, along with Paul Sablock, represented the seller, West Harbor. The buyer was represented by Jack Cline, Evan Jurgensen, and Andy Gage of Lee and Associates.

“This transaction highlights the continued investor interest in well-located, fully leased industrial properties,” said Perrier, vice chair at CBRE. “The property's prime location and high functionality make it an attractive investment for long-term growth.”

Located in the infill City of Industry, the property is just one mile from the I-605 and I-10 interchange. This highly functional industrial building captures distribution and manufacturing demand with its ample loading doors, trailer parking, and 4,000 amps of power.

According to CBRE research, the San Gabriel Valley industrial market closed Q4 2024 with a vacancy rate of 4.5%. The area’s direct asking rates dropped by 19.2% from $1.64 Q4 2023 giving occupiers the opportunity to capitalized on these favorable market conditions to lock in long term leases.