Christopher J. Destino of the Destino Industrial Team within Lee & Associates is pleased to announce the sale of the 24,000 sf Industrial building located at 16450 Phoebe Avenue, La Mirada CA for $4,800,000 ($200 psf). The Property features prominent freeway visibility along the I-5 at the border of Los Angeles and Orange County. The property was sold by a local investor who intends to execute a 1031 Exchange and deploy his capital proceeds in another state besides California. Taxation, business climate and market dynamics all played pivotal roles in the Seller's decision.
The Buyer, Blackcrow Industries, intends to renovate the 1964 concrete tilt-up industrial building for his electrical equipment manufacturing business.
Christopher J. Destino, SIOR, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.