Niko Arzandosa Acquires Industrial Property In El Monte From Karl B. Manthuel For $3.99M

3015 Durfee Avenue is a mixed-use industrial property located in El Monte, California. The asset encompasses a total area of 10,676 square feet and has successfully been sold for $3,990,000, reflecting a price per square foot of $373.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $3,990,000
• Address: 3015 Durfee Avenue
• Market: El Monte
• Square Footage: 10,676
• Price per Square Foot: $373
• Buyer: Niko Arzandosa
• Seller: Karl B. Manthuel
• Broker Representatives: Daniel Hirth & Alex Reyhan - The Hirth Group
• Capitalization Rate: 5.78%
• Lease Type: Fully NNN leases
• Due Diligence Period: 30 days
• Close Period: 45 days

Daniel Hirth and Alex Reyhan of The Hirth Group facilitated the transaction by representing both the buyer and seller. Their expertise allowed for a record-setting sale, demonstrating their proficiency in sourcing and negotiating commercial transactions. The team managed an accelerated escrow process, including securing financing for the buyer, ensuring a seamless experience for all parties involved.