IDS Real Estate Acquires Azusa Industrial Center for $125 Million, Setting Record for Los Angeles County
IDS Real Estate purchases the Azusa Industrial Center, a 432,500 square feet property in Azusa, California, for over $125 million, marking one of the highest-priced industrial property sales in Los Angeles County.
IDS Real Estate, a prominent player in the commercial real estate industry, has made headlines with its recent acquisition of the Azusa Industrial Center in California. The property, spanning approximately 432,500 square feet, has been sold for a staggering price of over $125 million, setting a new record for industrial property sales in Los Angeles County.
Located in Azusa, California, the Azusa Industrial Center is strategically positioned about 25 miles northeast of downtown Los Angeles. The property’s prime location offers convenient access to major transportation routes, including highways and rail lines, making it an attractive investment opportunity for IDS Real Estate.
David G. Mgrublian, the driving force behind IDS Real Estate, spearheaded this significant transaction. With his extensive experience and expertise in the commercial real estate market, Mgrublian has successfully led IDS Real Estate to make strategic investments in high-value properties.
The acquisition of the Azusa Industrial Center by IDS Real Estate highlights the growing demand for industrial properties in Los Angeles County. The region’s thriving economy, coupled with its strategic location as a major transportation hub, has made it a hotbed for commercial real estate investments.
The Azusa Industrial Center offers a range of attractive features for potential tenants. The property boasts a substantial space of 432,500 square feet, providing ample room for various industrial operations. Its modern infrastructure and state-of-the-art facilities make it an ideal choice for businesses looking to establish or expand their presence in the area.
The sale of the Azusa Industrial Center was facilitated by reputable brokers who played a crucial role in bringing the buyer and seller together. Their expertise in the commercial real estate market and their extensive network of contacts ensured a smooth and successful transaction.
This record-breaking sale has generated significant buzz in the commercial real estate community, with industry experts closely monitoring the implications of this deal. The high price per square foot ($289) reflects the strong demand for industrial properties in Los Angeles County and the willingness of investors to pay a premium for prime assets.
Overall, the acquisition of the Azusa Industrial Center by IDS Real Estate showcases the company’s commitment to strategic investments in high-value properties. With its prime location, modern facilities, and record-breaking price, this transaction sets a new benchmark for industrial property sales in Los Angeles County and underscores the robustness of the commercial real estate market in the region.