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Industrial Warehouse For Sale
2640 E 26th StreetOffering Memorandum Moon Lim
213.308.2056
2 | 2640 E. 26th Street, Vernon, CA 90058
SummaryInvestment Summary2640 E. 26th StreetVernon, CA 90058
26th Street
Washington Blvd
2640 E. 26th Street | Vernon, CA
The Offering
JLL | 3
• Close Proximity to Downtown Los Angeles and 20 Minutes North of Los Angeles and Long Beach Ports
• Large Fenced Yard Area for Trailer Parking or Outdoor Storage
• 13 Dock High Loading Doors
• Brand New Offices with Recently Renovated Roof that includes Natural Skylights and Fluorescent Lighting
• Space Can be Used as a Whole or Divided
• Located in the Northern Part of Vernon Where Truck and Freight are Allowed and the Property is Qualified for Trucking Permit
• Perfect Property for Owner-User Who Needs Manufacturing, Truck-ing and Warehousing
INVESTMENT HIGHLIGHTS
OFFERING SUMMARY
Offering Price $9,499,000
Total GLA 40,105 SF
Price/SF GLA $236.85
Lot Area 82,512 SF
Price/SF Lot $115.12
4 | 2640 E. 26th Street, Vernon, CA 90058
PropertyProperty Overview2640 E. 26th StreetVernon, CA 90058
2640 E. 26th Street | Vernon, CAProperty Overview
PROPERTY DETAILS
OFFERING SUMMARY
Address 2640 East 26th Street, Vernon, California 90058
APN 6302-001-028
Gross Leaseable Area (GLA) 40,105 SF
Lot Size 82,512 SF / 1.89 AC
Zoning M
Year Built/ Renovated 1964 / 2015
Ceiling Height 16 ft - 18 ft
Office Spce +/- 8,741 SF Total (Space A : +/- 6,241 SF , Space B: +/-2,500 SF)
Parking 52 Total (44 Standard, 6 Compact, 3 Handicap)
Docks 13
Power 600a/277-480v 3p
Offering Price $9,499,000
Total GLA 40,105 SF
Price/SF GLA $236.85
Lot Area 82,512 SF
Price/SF Lot $115.12
JLL | 5
SITE PLAN
Floor Space 26,440 SF
Office Space Appx. 6,241 SF
Non Office Space 5,241 SF
Restroom 128 SF
Floor Space 13,665 SF
Office Space Appx. 2,500 SF
Restroom 130 SF
Elec. Room 40 SF
Janitor Room 45 SF
UNIT A
UNIT B
Unit A Unit B
6 | 2640 E. 26th Street, Vernon, CA 90058
The MarketAbout The City of Vernon The City of Vernon is an industrial city of 5.2 square miles lo-cated several miles to the southeast of Downtown Los Angeles in Southern California. Founded in 1905 as the first exclusively industrial city in the Southwestern United States, Vernon cur-rently houses more than 1,800 businesses that employ approxi-mately 50,000 people, serving as a vital economic engine in the region. Offering an environment uniquely friendly to business, Vernon is the home to industries including food and agricul-ture, apparel, steel, plastics, logistics and home furnishings. Vernon maintains strong philanthropic ties with the neighbor-ing communities where much its workforce lives, providing significant financial support for public services like health care and education.
Demand has historically been strong in Vernon due to its prox-imity to Downtown LA and the Alameda Corridor. Vacancies remained below 6% during the downturn and currently stand at 3.3%. However, about 200 basis points of that change stems from the conversion of the vacant Sears Towers distribution facility to a mixed-use complex with over 1,000 apartment units. Rent growth has been robust since 2014, but the aging in-ventory keeps average rents well below the metro average and rent gains have sharply decelerated in the second half of 2018. Land availability and traffic congestion limit construction, and few buildings have delivered this cycle. The largest industrial development in the pipeline is a two-building Prologis project
Specialized Industrial: 2.5% Logistics: 3.9% Flex: 0.7%
with 346,000 SF of warehouse, that will replace a 1960s vintage 418,600 SF warehouse that was vacated near the end of 2018.
Investors remain interested in the submarket, and sales volume exceeded $460 million in 2018. Vernon is exclusively industrial, as the city has been described since its foundation. The sub-market also comprises densely populated Huntington Park, Maywood, and Southern portions of Boyle Heights, which can be disadvantageous for companies moving goods in and out of buildings. Almost one-tenth of the metro’s industrial stock is in the submarket, which contains mostly older, 1 & 2 Star invento-ry related to manufacturing.
VACANCY RATE SUBMARKET 3.3%
SALES VOLUME & MARKET SALE PRICE PER SFMARKET RENT PER SQUARE FOOT
The City of Vernon - Industrial Submarket Overview
2640 E. 26th Street | Vernon, CAMarket Overiew
BANDINI BLVD
61st St
Fruitland Av
58th St
60th St
E WASHINGTON BLVD
56th St
S A
lam
eda
St
SLAUSON AV
RANDOLPH ST
S S
AN
TA F
E A
VE
Alco
a A
v
District Blvd
Soto
St
East
ern
Av
54th St
S B
oyle
Av
Paci
fic B
lvd
52nd St
Union Pacific Av
E Vernon Av
Giff
ord
Av
E 55th St
LON
G B
EA
CH
AV
E Slauson Av
Fruitland Av
LOS ANGELES RIVER
May
woo
d A
v
Fish
burn
Av
59th Pl
Pine
Av
E 26Th St
E 57th St
E 50th St
LEONIS BLVD
Triggs St
Hol
mes
Av
King
Av
E 46th St
Mal
abar
St
Sheila St
Sevi
lle A
v
Clarendon Av
Noakes St
59th Pl
Cor
ona
Av
E VERNON AV
E Slauson Av
57th St
S ATLANTIC BLVD
UNION PACIFIC RRBURLINGTON NORTHERN SANTA FE RR
E 27th St
Car
mel
ita A
v
E 38th St
52Nd Pl
E 58th St
E 44th St
Mile
s Av
E 25th St
E 51st St
E 48th St
Emery St
Couts Av
E 49th St
Alba
ny S
t
E 52nd St
TELEGRAPH RD
FRUITLAND AV
E 54th St Alco
a A
v
Indi
ana
StRoss St
Leonis St
E 56th St
E 54th St
E 53rd St
Arbu
tus
Av
E 15Th St
Lindbergh Ln
E 22Nd St
Mal
burg
Wy
Exchange Av
Nobel St
Viol
et A
l
Bick
ett S
t
Astor Av
Ayers Av
E 52nd Pl
McB
ird A
v
Laura Av
Dunham St
Ran
som
St
May
woo
d A
v
E 48th Pl
Ham
pton
St
Charter St
E 60th St
E 41st Pl
E 24th St
Stau
nton
Av
60th Pl
S H
erbe
rt A
v
E 45th St
Belgrave AvS
Indi
ana
St
Wal
ker A
v
Sier
ra P
ine
Av
BANDINI BLVDLOS ANGELES JUNCTION RR
UNION PACIFIC RR
E 43rd St
E 58th Pl
S B
onni
e Be
ach
Pl
Packers Av
Sevi
lle A
v
Lugo St
Los
Pal
os S
t
S S
unol
Dr
Chambers St
Holabird Av
Haw
thor
ne A
v
Furlo
ng P
l
Alco
a A
v
53rd St
55th St
UNIO
N PA
CIFI
C RR
BURL
INGT
ON
NORT
HERN
SAN
TA F
E RR
UNIO
N PA
CIFI
C RR
MET
RO B
LUE
LINE
/SPT
CO
RR
UNION PACIFIC RR
E 49Th St
E Slauson Av
Sheila St
61st St
E 51st St
Long Beach Frwy
Belgrave Av
DISTRICT BLVD 26Th St
E 26th St
Ayer
s Av
E VERNON AV
Irving St
RANDOLPH ST
Lom
a V
ista
Av
57th St
Ever
ett A
v
Lom
a V
ista
Av
E 37TH ST
E SLAUSON AV
E 45th St
E 46th St
E 42nd St
E 50th St
E 52nd St
E 54th St
PAC
IFIC
BLV
D
E 28th ST
30th St
E 45th St
E 46th St
Sain
t Cha
rles
St
E 52nd St
Ros
s St
E 37th St
ALA
ME
DA
ST
BO
YLE
AV
SO
TO S
TS
Sot
o S
t
S S
anta
Fe
Av
E 49th St
Martin LutherKing Jr Blvd
E 41st St
E 40th Pl
Alam
eda
St
S S
anta
Fe
Av
Reg
ent S
t
E 26th St
Sevi
lle A
v
DO
WN
EY
RD
S AT
LAN
TIC
BLV
D
E 50th St
52nd St
54th St
56th St
58th St
55th St
58th St
May
flow
er A
v
61st Pl
Woo
dlaw
n Av
61st St
0 500 1,000 1,500 2,000Feet
Adopted April 2015City Council Ordinance No. 1227
C i t y o f V e r n o nZ O N I N G M A P
Vernon City Boundary
Vernon Sphere of Influence
Freeway
Railroad
Base MapZoneIndustrial Housing
Emergency ShelterCommercial-1Commercial-2RenderingSlaughteringTruck and Freight Terminal
Overlay Zones
SUBJECT PROPERTY
• Located in the Northern Part of Vernon Where Truck and Freight are Allowed and the Property is Qualified for Trucking Permit
• Perfect Property for Owner-User Who Needs Man-ufacturing, Trucking and Warehousing
Truck and Freight TerminalCITY OF VERNON ZONING MAP
26th Street
JLL | 7
8 | 2640 E. 26th Street, Vernon, CA 90058
CONFIDENTIALITY AND DISCLAIMER
This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a pre-liminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. JLL has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject prop-erty, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occu-pancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, JLL has not verified, and will not verify, any of the information contained herein, nor has JLL conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
NON-ENDORSEMENT NOTICE
JLL is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of JLL, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of JLL, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR JLL AGENT FOR MORE DETAILS.
2640 East 26th Street
EXCLUSIVELY LISTED BY
Moon LimSenior Vice President213.308.2056 cell213.239.6013 [email protected] CA 01903050