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Wednesday, Dec 6, 2023

Two Ventura County Warehouses Sell for $15.7 Million

 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.”

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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