CBRE Arranges $9.23 Million Sale of Arrow Pines Business Park

CBRE has arranged the sale of Arrow Pines Business Park, a 44,125-square-foot-industrial business park in San Dimas, Calif., to a private investor, Arrow SD LLC, for $9.23 million.

CBRE Investment Properties’ Mark Shaffer, Anthony DeLorenzo, Gerand Poutier and Dylan Rutigliano, along with CBRE’s National Partners Barbara Perrier and Eric Cox, represented the seller, SoCal Industrial LLC, a joint venture of Birtcher Anderson Davis & Associates and Belay Investment Group, in the transaction.

“This sale signifies the high demand for small bay multi-tenant industrial properties in Southern California,” said CBRE’s Mr. Shaffer, senior vice president at CBRE. “We continue to see strong demand from 1031 exchange buyers and private investors looking to diversify into industrial from other product types like multifamily.”

Built in 1987, Arrow Pines Business Park’s three building sizes range from 11,240 square feet to 16,473 square feet, with unit sizes varying from 960 to 3,192 square feet. The 82.2% occupied business complex features a 12 to 15-foot clear height and 32 grade-level doors.

Located on 3.17 acres at 210 and 260 West Arrow Hwy and 440 South Cataract Ave, the business park is in one of Southern California’s top submarkets with limited vacancies and new development. The property is near the Ports of Los Angeles and Long Beach, the second largest customs district in the US, multiple airports and Interstate-210 (I-210), I-57 and I-10.

According to CBRE research, the Greater Los Angeles industrial market closed in Q1 2024 with a vacancy rate of 2.7%. The data suggests a strong demand for industrial spaces in the area.