Marcus & Millichap Arranges the Sale of a 50,000-Square-Foot Los Angeles Industrial Building

LOS ANGELES, CA, March 12, 2025– Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of 21300 Vanowen Street a 50,000-square foot industrial property located in Los Angeles, CA, according to Jim Markel, regional manager of the firm’s Encino office. The asset sold for $16,300,000.

The buyer, a limited liability company, was secured and represented by Adam Abushagur, Ari Greene, and Joshua Cohan, investment specialists in Marcus & Millichap’s Dallas, Encino office

This industrial property is located at 21300 Vanowen St in Los Angeles, CA.  “We are happy to help our client acquire a core asset at a competitive return that has a long-term value-add play on the land's value,” said Ari Greene.

This single-tenant, 50,000-square-foot distribution center sits on a spacious 2.4-acre lot, offering a versatile commercial space. The facility boasts a 16-foot clear height and includes 11 dock-high and grade-level doors, catering to various operational needs. The property is currently occupied by a FedEx Ship Center, which operates under a triple-net lease at market rate. This arrangement ensures stable and predictable cash flow, with the added advantage of a strong national tenant.

Given its prime location, robust infrastructure, and long-term land value potential, this asset offered a compelling investment opportunity with immediate returns and future upside.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.