A Dallas-based investor acquired a three-building industrial portfolio located at 1319 West Pico Boulevard, 1242 Valencia Street, 1427-1435 West Pico Boulevard, and 1403-1405 West Pico Boulevard in Los Angeles. The portfolio consists of 59,845 square feet of industrial space and was sold for $8,300,000, translating to approximately $139 per square foot. The properties were owned by the Estrada family and included one income-producing warehouse along with two vacant buildings.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $8,300,000
• Square Footage: 59,845
• Address: 1319 West Pico Boulevard, 1242 Valencia Street, 1427-1435 West Pico Boulevard & 1403-1405 West Pico Boulevard
• Market: Los Angeles
• Seller: Estrada Family
• Brokers: Mark Tarczynski & Mick Moody - Colliers

The transaction reflects a notable pricing reset in Los Angeles's industrial market, with the final sale price being less than half of the original asking price of $16,000,000. The deal was facilitated by the brokerage firm Colliers, which represented the seller, the Estrada family.