- 90,000-square-foot facility was sold to furniture distributor ID USA
- Buyer will use it to relocate and expand from another facility in Commerce, Cal.
COMMERCE, Cal., Oct. 7, 2013 – Cushman & Wakefield has completed the sale of 6557 Flotilla Street, a 90,000-square-foot industrial facility in Commerce. The property traded for $6.6 million, which factors out to just more than $73 per square foot.
The commercial real estate services firm’s Los Angeles South-Torrance based team of John McMillan, Jeff Sanita and Timothy Wallace represented the seller, Flotilla Street Property, LLC. The buyer, ID USA, a distributor of furniture, will utilize the property to expand and relocate within the City of Commerce.
“The building was sold as-is and required deferred maintenance for interior and exterior painting, a complete renovation of its office component, and yard repairs, among other items,” said Sanita. “It was sold vacant, and ID USA has since leased out approximately 30,000 square feet for three years but will eventually grow into that space.”
Constructed in 1956, 6557 Flotilla Street is a single-story warehouse facility, situated near I-60 and downtown Commerce.
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,000 industrial real estate transactions – totaling 261 million square feet – with an aggregate value in excess of $8.43 billion.