Gray Lange, Jr Acquires Industrial Asset In Signal Hill For $1.775M With Buyer's Rep Jignesh Patel & Juan Huizar

The property involved in this transaction is an industrial asset located at 1940 Freeman Avenue in Signal Hill. The sale price for this asset was $1,775,000, and it encompasses a total square footage of 7,740 with a price per square foot of $229. The capitalization rate for this transaction was calculated at 3.72%.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,775,000
• Location: 1940 Freeman Avenue
• Market: Signal Hill
• Square Footage: 7,740
• Price Per Square Foot: $229
• Capitalization Rate: 3.72%
• Buyer: Gray Lange, Jr
• Buyer’s Representative: Jignesh (Jack) Patel & Juan Huizar - Sage Real Estate
• Seller’s Representative: Dana Coronado - Compass

Jack and Juan represented the buyer in a reverse 1031 exchange, successfully securing seller financing to facilitate the purchase. This strategic structuring enabled the buyer to acquire the property promptly while preparing the relinquished asset for market to fulfill the exchange requirement.