Voit Real Estate Services closed the $10,053,160 sale of 1400-1430 Arrow Hwy. in Irwindale, CA. EVP and partner Michael Hefner of Voit’s Anaheim office represented both the seller, DJ CRT, LLC, and the buyer, Dunbar Real Estate Investment Management.
The 51,487-square-foot multi-tenant industrial and distribution park, comprised of three grade-level freestanding buildings with a total of 16 units, traded at $195.26 per square foot. It was only 56% occupied at the close of escrow as a result of recent fire damage.
Dunbar will extensively renovate the business park and process a new parcel map to create individual industrial condominiums, according to Voit. The units will be offered for sale to owner-users and investors.
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