Newmark has completed the approximately $8 million off-market sale of a 55,185-square-foot industrial building located at 5155 Goldman Avenue in Moorpark, CA, a city within Ventura County. The property is fully occupied by a single user, QEP Co., Inc., a company specializing in installation tools and accessories for tile, porcelain and natural stone.
Newmark’s Senior Managing Director Patrick DuRoss, Executive Managing Director John DeGrinis and Senior Managing Director Jeff Abraham represented the seller, a local private investor, as well as the buyer, Penwood Real Estate Investment Management.
“This leased investment is the fourth sale our team has completed on behalf of the seller over the past five years,” said DuRoss. “It was really important for us to identify a reliable buyer that would ensure a seamless and successful escrow and closing process. Ultimately, we executed the sale off-market with the buyer, also a repeat client, who not only liked the quality and stability of the asset, but the strong dynamics of the Moorpark industrial market.”
Built in 1986, the free-standing building includes a fenced yard, dock high loading, 22-foot ceilings, and heavy power, among other modern features. The asset is well-located near Los Angeles Avenue and the 118/23 freeway junction.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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