Jones Lang LaSalle Inc.
10/28/2024 | Press release | Distributed by Public on 10/28/2024 08:43
Industrial property in Los Angeles, CA sells for $59.9M
LOS ANGELES, Oct. 28, 2024 - JLL Capital Markets announced today the $59.9M sale of a 282,377-square-foot industrial property located at 918 S. Stimson Ave. in the City of Industry, California.
JLL represented the sellers in the transaction. Ardmore Home Design, a luxury wholesale furniture manufacturer and the building's tenant, acquired the asset.
Built in 1981, the distribution facility features 24-30-foot clear heights, 34 dock-high doors, two grade-level doors, 28 trailer stalls and 150 auto stalls.
Located on 13.06 acres near California Highway 60 and close to Interstates 605, 10 and 210, the property offers easy access to Southern California's consumer base of over 25 million residents.
The JLL Investment Sales and Advisory team was led by Senior Managing Director Patrick Nally and Director Makenna Peter, as well as Senior Managing Director Mark Detmer and Senior Director Evan Moran. Rick Sherburne and Kyle Sherburne with HRS Commercial represented Ardmore Home Design.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
Established in 2008, Ardmore Home Design (AHD) is an independent and dynamic company driven by its founder's entrepreneurial spirit. Their primary focus lies in creating, selling, and distributing premium home embellishments to interior designers and esteemed boutique and luxury retailers on a global scale. AHD has a wide range of wholesale brands under their umbrella, comprising of Made Goods, which offers flagship furniture crafted from exceptional materials; Pigeon & Poodle, specializing in home and bath accessories; Blue Pheasant, dedicated to handcrafted tabletop products; and Thucassi, offering artisanal candles and fragrances. In Q2 of 2024, Ardmore Home Design announced the acquisition of Burton James, a furniture upholsterer that will enhance their portfolio and streamline efficiency and quality for a wide array of their products.