THE KLABIN COMPANY REPRESENTS DOVETAIL FURNITURE IN OFF-MARKET PURCHASE OF INDUSTRIAL WAREHOUSE IN LOS ANGELES

Klabin Team Negotiates $7.2 Million Transaction in Prime Location Just East of the 110 Freeway as Industrial Market Remains Strong

(October 12, 2020 – TORRANCE, CALIF.) – Signifying the continued strength of the industrial market in Southern California, The Klabin Company/CORFAC International today announced it negotiated the purchase of a 41,723-square-foot warehouse at 14150 S. Figueroa Street in Los Angeles.

The Klabin Company’s Matthew Stringfellow, SIOR, Courtney Bell and Tyler Rollema represented the buyer, Dovetail Furniture & Designs, in the $7.2 million transaction. The property was purchased from AJ Wholesale, a distributor of tools, home improvement products, outdoor recreational items and other specialized products. AJ Wholesale represented itself in the sale.

The property is situated in the prime Gardena-110 Corridor submarket location just east of the 110 Freeway at Rosecrans Avenue. According to Stringfellow, Dovetail is expanding and will use the building for warehouse and distribution. Dovetail will continue to maintain its corporate headquarters next door at 14000 S. Figueroa Street along with an additional warehouse in Carson.

Founded in 1992 by Charlie Shaw and Ted Einstein, Dovetail has developed an expertise in sourcing an eclectic range of handmade furniture, accessories and textiles from around the world. The company distributes from its L.A. facilities, and its headquarters includes a showroom for wholesale and design clients.

“Purchase opportunities in this heated market are rare,” said Stringfellow. “Low interest rates, user demand and investor activity continue to drive interest and competition for functional buildings. Dovetail wasn’t necessarily looking to purchase but seized on the opportunity to buy the neighboring property from AJ Wholesale, who was a great partner in the transaction.”

About The Klabin Company/CORFAC International

Now in its sixth decade, 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 for decades. The Klabin Company emphasizes how the sharing of information, experiences and relationships with all of its 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.

Matt Stringfellow, SIOR, Courtney Bell and Tyler Rollema represent Buyer in this $7.2 million dollar transaction for 41,723 square-foot building in prime Gardena-110 Corridor submarket.