NORWALK AND CITY OF INDUSTRY, CALIF. — JLL Capital Markets has arranged the sales of two vacant retail assets located in Los Angeles County for a combined consideration of $4.8 million.
Happy Sky Inc. acquired the 8,100-square-foot building, located at 11732 Rosecrans Ave. in Norwalk. Completed in 1950, the freestanding building is situated on 0.5 acres of land. The adjacent 29-stall parking lot was included in the deal. The buyer plans to convert the property, which was formerly occupied by Mega Shoe Factory, into a coin-operated laundromat.
Bliss Car Wash purchased the 1.1-acre, two-parcel asset at 120 S. Hacienda Blvd. in City of Industry. Formerly a bank branch building with a drive-thru, the one-story, 5,500-square-foot building features 66 parking spaces on a rectangular lot. The buyer plans to demolish the existing building and construct an express car wash facility on the property.
Adam Friedlander of JLL Retail Capital Markets represented the sellers, private investors, in each transaction.