A pair of warehouses in Ventura County totaling 108,600 square feet sold for a combined $15.7 million, according to brokerage NAI Capital Commercial.
Seacoast Associates sold the 57,600-square-foot industrial site at 301-319 Lambert St. in Oxnard for $7.6 million to Lambert Industrial Properties and comes fully leased to multiple tenants. The price works out to $132 per square foot.
The other property at 162 Montgomery Ave. in Oxnard sold for $8.1 million, or $159 per square foot. The 51,000-square foot warehouse, sold by RKN and bought by Montgomery Properties LLC, is a cold storage facility purchased by one the site’s three tenants — a logistics business — for expansion.
Both sales reflect a spillover from the San Fernando Valley submarkets where demand is high for increasingly scarce industrial properties and where vacancy is under 1 percent.
Fred Ferro with NAI Capital Commercial’s Ventura County office, represented the sellers in both transactions.
“This was an excellent opportunity for the buyers to secure well-located industrial properties in a tight market,” Ferro said in a statement. “Industrial buildings for sale remain scarce, selling for a premium. The sellers are extremely pleased with their sale.”