CBRE Arranges $24 Million Sale of Industrial Portfolio in Signal Hill, Calif

CBRE facilitated the sale of the Signal Hill Commerce Center, a portfolio of three industrial properties totaling 89,438 square feet across four buildings in Signal Hill, Calif. The properties, located at 2698 Junipero Avenue, 2300 Walnut Avenue and 2700 Rose Avenue, were acquired by an out-of-state high-net buyer for $24 million ($268 per square foot).

CBRE's Michael Longo, Eric Cox, Grant Goldman, Mark Shaffer, Anthony DeLorenzo, along with Brian Held, represented the seller, DRA, in the transaction. Greg Grant and Pete Obradovich, with CBRE's Debt & Structured Finance practice, organized the funding.

"This offered a truly unique opportunity to acquire irreplaceable assets in one of the country's most desirable industrial markets," said Goldman, associate at CBRE. "With strong in-place cash flows and significant near-term mark-to-market opportunities, these properties are well-positioned for continued success."

The portfolio spans across 4.3 acres and is 87% leased to 46 diverse tenants with unit sizes ranging from 1,250 to 4,176 square feet. All four buildings feature a 24-foot clear height and between 12 and 20 ground-level doors.

Located in the port-adjacent South Bay submarket, CBRE research indicates it has one of the highest asking rents in the market due to its proximity to the ports of Los Angeles and Long Beach.