1506-1522 W 12th St, Los Angeles, CA 90015

28K SF Warehouse Near DTLA for $250/SF

Sold: $7,100,000

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Property Highlights

28,313 SqFt industrial site near DTLA
Represented repeat 1031 exchange client; final piece of a broader 1031 exchange, totaling $24 million in total consideration
Client secured high LTV SBA financing around 90% leverage
Closed for $4.4 million below original asking price at $250/SF
Negotiated a sale-leaseback with seller for approximately 6,279 SqFt of space on an 18+ month term @ $1.43/SF + NNN
Site includes three double-story warehouse spaces, renovated mezzanine offices, grade level rollups, 40+ parking spaces, as well as multiple photography studios
Mix of C2 and R4 zoning with Tier 2 TOC, providing long term multifamily development potential

The Deal Story

The Glaser Group is pleased to announce the closing of 1506-1522 W 12th St for $7,100,000.

The acquisition of this ~30K SqFt warehouse was the final piece of a broader 1031 exchange, totaling $24 million in total consideration for our team this year. We were also able to help our client secure attractive SBA financing at close to 90% leverage.

1506-1522 W 12th St is a beautiful industrial asset near Downtown LA, comprised of four separate parcels and 28,313 SqFt of rentable space. The site includes three double-story warehouse spaces, renovated mezzanine offices, grade level rollups, 40+ parking spaces, as well as multiple photography studios. The zoning is a mix of C2 and R4 with Tier 2 TOC, providing long term multifamily development potential as well.

In addition to the $7.1MM sale, we negotiated a sale-leaseback with seller for approximately 6,279 SqFt of space on an 18+ month term @ $1.43/SF + NNN.

All-in-all this was a hugely successful transaction for our client and we are proud to have navigated such a sizable 1031 exchange on their behalf.

If you’re interested in exploring a 1031 exchange or the sale of a similar asset within LA County, please reach out to our team! We’d be happy to assist.

Onto the next…