Coldwell Banker Commercial WESTMAC has arranged the sale of 12831 Cerise Avenue for $3,278,525.
Located in the City of Hawthorne, blocks from the Hawthorne Airport and Space X facilities, the newly renovated creative flex sits at the forefront of a booming industrial hub. Ample activity surrounds the ±19,284-square foot property, which sold for $455 per square foot at a 5.3% cap rate.
The single-story ±7,200-square foot multi-tenant building features brilliant brick exterior, open floor plans, high bow and truss ceiling, and plentiful parking. The building was fully leased at the time of sale and underwent extensive property improvements prior to market.
“This was an ideal investment opportunity for our buyer, as seller had optimized interest with two new leases in place and a remarkable remodeled building specifically built-out for new tenants,” said T.C. Macker.
The buyer was in a 1031 exchange.
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented both the seller and buyer. Albert Pacleb of LA Commercial, Inc. represented the seller.