Van Stone Conveyor Inc Acquires Industrial Warehouse From J.O.R. Real Estate LLC For $3.2M

The property involved in this transaction is a 12,600 square foot warehouse located at 8528 Dice Road in Santa Fe Springs. It was sold for a transaction amount of $3,200,000, which reflects a price per square foot of $254. The asset, which is identified as industrial, was put on the market with an asking price of $2.9 million but ultimately sold for a higher amount after competitive bidding from multiple investors. The warehouse includes office space, a secured yard, and is equipped with 800 amps of power. The current lease on the property extends until October 2025.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $3,200,000
• Address: 8528 Dice Road
• Market: Santa Fe Springs
• Square Footage: 12,600
• Price per Square Foot: $254
• Buyer: Van Stone Conveyor Inc
• Seller: J.O.R. Real Estate LLC
• Broker: Phillip DeRousse - Lee & Associates

This transaction was notable for the competitive nature, as Van Stone Conveyor Inc. outbid several other investors to acquire the property. Phillip DeRousse represented the interests of the buyer in this transaction. The property's lease agreement signifies its immediate use potential, as it will remain leased until the end of October 2025.