CBRE Arranges $13.58 Million Sale of Industrial Property in Valencia, CA

CBRE has announced the successful sale of a 60,474-square-foot industrial property located at 28212-28230 Constellation Road, Valencia, CA, for $13.58 million to Watercress Holdings.

CBRE’s Sam Glendon represented the seller, 28230 Constellation LLC, in the transaction.

“Despite regional challenges in the industrial sector, the LA North industrial market has demonstrated remarkable resilience,” said Glendon, Senior Vice President at CBRE. “With a vacancy rate of just 2.3%, it remains one of the healthiest markets in the nation.”

At the time of sale, approximately 23,000 square feet of the building was vacant, while the remaining space is occupied by long-term tenants SCP Pool and Scooter’s Jungle.

Watercress Holdings plans to make significant investments in the property, which are already underway, including upgrades to the exterior, roof, common areas, and a complete remodel of the vacant unit.

“We are thrilled to acquire this state-of-the-art 60,000-square-foot industrial building in Valencia, California,” said Jim Franklin of Watercress Holdings. “The planned renovations will enhance both the common areas and the 23,000-square-foot vacant unit, making it a strategic addition to our growing portfolio of office and industrial properties across the Western U.S.”