STRONG RELATIONSHIPS LEAD TO COMPLETION OF $75.3 MILLION SALE OF FULLY LEASED, MULTI-TENANT INDUSTRIAL PROPERTY IN TORRANCE

The Klabin Company and Newmark work closely on finalizing the transaction for ZKS Real Estate Partners, LLC, sellers of the 307,487 square-foot building in the heart of the South Bay. 

(January 18, 2022 – TORRANCE, CALIF.) – The Klabin Company/CORFAC International today announced it negotiated the $75.3 million sale of a 307,487 square-foot fully leased, multi-tenant industrial property at 4240 W.190th Street in Torrance.

The Klabin Company’s David Prior, SIOR, Todd Taugner, SIOR, and Frank Schulz, SIOR, served as the local market experts and were an integral part of the brokerage team that represented the seller, ZKS Real Estate Partners, LLC. The team also included a group of capital markets experts from Newmark: Bret Hardy, Andrew Briner, Kevin Shannon, Jim Linn and Scott Schumacher served as the institutional investment contacts.

The buyer was Rexford Industrial Realty, Inc. (NYSE), a real estate investment trust focused on creating value by investing in and operating industrial properties throughout Southern California infill markets.

The building at 4240 W. 190th sits on 11.4 acres of land in the heart of the South Bay, one of the leading industrial submarkets in the world. The region holds a remarkable vacancy rate of less than one percent with access to six million residents within in a 20-mile radius and extremely limited land available for new industrial development.

The property is near the two busiest seaports in North America, LAX, the fourth ranked airport in the U.S. for cargo volume and has immediate access to Interstates 405 and 110. The facility features significant dock-high and grade-level loading, a large yard area and future rail-service potential.

“We were involved with this sale because of our history with the property,” said Prior. “We sold the building to ZKS in 1995 and have marketed it for them ever since. Just last year we finalized a lease extension with the primary tenant in the building, so we are extremely familiar with the property and its history, which was very helpful to the buyer, Rexford Industrial. Working with Newmark made for a smooth transaction, as we respect and get along with them very well. The Rexford team was exceptionally professional in a very competitive market and our client, ZKS, worked hard to ensure the transaction was completed in a timely manner. It could not have gone any better.”

About The Klabin Company/CORFAC International

Now in its seventh decade of operation, The Klabin Company/CORFAC International is ranked among the top commercial real estate companies based in Los Angeles. Built on the principles of an open and enduring culture, the company has maintained its independence as a privately-owned business since 1961. The Klabin Company emphasizes how the sharing of information, experience and relationships among all colleagues works to everyone’s advantage. The firm is dedicated to the needs of its clients, and through this commitment, it has remained successful for years. The Klabin Company is affiliated with CORFAC International. For more information go to www.Klabin.com.  

About CORFAC International

CORFAC International is a global network comprising private held entrepreneurial commercial real estate firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 75 offices in the U.S., Canada and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Mexico, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide. Contact Jonathan Salk, CORFAC Executive Director, at (224) 257-4400 or jonathan@corfac.com or visit www.corfac.com.

The Klabin Company and Newmark represents Seller, in the Leased Investment Sale of 4240 W 190th St., Torrance to Buyer, Rexford Industrial.