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Avison Young, NKF Broker $5M Sale of Industrial Asset in West Los Angeles

LOS ANGELES — Avison Young and Newmark Knight Frank (NKF) have arranged the sale of an industrial building with excess land located at 2133 and 2143 Pontius Ave. in West Los Angeles. A California-based private investor sold the property to a West Los Angeles-based private investor for $5 million.

Built in 1948 on a 0.3-acre land parcel, the 6,500-square-foot building features a high-clear-span, bow truss design with sufficient loading and power, warehouse skylights and 14-foot minimum ceiling height.

Patrick Barnes, Chris Maling and David Maling of Avison Young, along with John DeGrinis of Newmark Knight Frank, represented the seller, while David Kamran of Diva Real Estate Group represented the buyer in the deal.

According to the brokers, the transaction was record-setting for the West Los Angeles submarket with the highest price per square foot of $590 paid for an industrial building under 10,000 square feet and $300 per square foot for the land, per CoStar records.

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