Lift Partners Buys LA-Area Industrial Asset
The property is fully leased to Wenzlau Engineering.
2590 E. Harcourt. Image courtesy of DAUM Commercial
Lift Partners has purchased 2950 E. Harcourt Street, a 42,472-square-foot industrial asset in Rancho Dominguez, Calif., in an off-market transaction. The seller was Wenzlau Engineering, according to CommercialEdge data. DAUM Commercial represented the seller and also procured the buyer in the transaction.
Anthony Bergeman, executive vice president and principal at DAUM Commercial, represented the seller alongside brokers Krishna Shegran and Michael Chase. Bergeman said in prepared remarks that the Rancho Dominguez submarket has one of the tightest industrial vacancy rates in Los Angeles County, at just 0.7 percent.
Built in 1985, the property is fully leased to its previous owner, Wenzlau Engineering. The asset has four dock-high doors with two ground-level loading positions and a fenced yard.
Located at 2950 E. Harcourt, the facility is within close proximity to Interstate 710, State Route 91 as well as the Alameda Corridor, 12 miles from World Ports of L.A. and Long Beach, Calif. Long Beach Airport is also some 8 miles southeast of the property.
The Los Angeles market sits at the top of rent and occupancy metrics in the U.S., alongside the Inland Empire and Orange County, the latest CommercialEdge report shows. As of March, Los Angeles had a vacancy rate of 2.1 percent.
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