Spectrum Commercial Real Estate Just Closed 5-DAY ESCROW – ALL CASH $4.2 Million Sale of Flex Building in Valencia, CA
Valencia, CA – September 7, 2022 – Executive Managing Director Yair Haimoff, SIOR of Spectrum Commercial Real Estate, Inc., and his team are pleased to announce the recent sale of a high-image flex building located in Valencia Commerce Center in Valencia, California.
The subject property located at 28528 Industry Drive is an approximately 15,790-square-foot single-story high-image flex building situated on approximately 1.8 acres. The property was previously occupied by a bank operations center and features a well-designed office layout with high-end finishes, high ceilings, fire sprinklers, fiber optics, many security features, a backup generator, over 4/1,000 parking ratio, and additional land for possible building expansion.
According to Yair Haimoff, “This was an extremely fast escrow as the Buyer needed to meet a 1031 exchange deadline. Both Buyer and Seller had to work extremely hard to meet the closing deadline.”
Given the extremely low industrial/flex vacancy rate, attractive building features, expansion possibilities, surrounding amenities, and easy access to the 126 and I-5 freeways, this was an attractive purchase opportunity for our client.
The Buyer, an investor, retained Spectrum CRE™ to continue as the Leasing Broker for the newly acquired asset.
The property sold for $4,178,517.00, with Spectrum CRE™ representing the Buyer and Jones Lang LaSalle Americas, Inc. representing the Seller.
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