Steve Elson And Brad Pennington Acquire Industrial Asset In South Bay For $21.4 Million

The asset involved in this transaction is located at 3401 Del Amo Boulevard within the South Bay market. This industrial/flex property spans 83,000 square feet and was sold for a transaction amount of $21,400,000, equating to a price per square foot of $257.

Summary of transaction details:

• Property Type: Industrial / Flex
• Transaction Amount: $21,400,000
• Address: 3401 Del Amo Boulevard
• Market: South Bay
• Square Footage: 83,000
• Price Per Square Foot: $257
• Buyer: Steve Elson & Brad Pennington - Alta West Partners; Glendon Capital Management and an affiliate of A2 Capital Management
• Brokers: Brett Racanelli, Nathan Piehl & Jeffrey Morgan - Cushman & Wakefield

This transaction marks Alta West Partners’ third acquisition in the past six months, further expanding their portfolio, which now exceeds 450,000 square feet across various types of spaces such as R&D, studio/production, office, lab, and flex space.