11/29/2007

Fed Ex industrial building on the block for $10.5M

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A 50,433 square foot office and industrial Federal Express building is on the sales block for $10.5 million.

Jerry Wise of Marcus & Millichap's Los Angeles office has been hired to market the property for the seller, a family partnership.

The building, located at 645 South Allied Way, includes 9,820 square feet of office space and is currently Fed Ex's freight forwarding center. It is situated on 2.26 acres in El Segundo, a town located 19 miles southwest of Los Angeles with a population of 16,033.

Address: 645 S. Allied Way, El Segundo, Calif.

Size: 50,433 square feet




EL SEGUNDO, Calif., Nov. 28, 2007 - Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm, has retained the exclusive listing for the Federal Express building, a 50,433-square foot industrial and office building in El Segundo. The listing price of $10.5 million represents $208 per square foot.

Jerry Wise, a senior investment associate in the West Los Angeles office of Marcus & Millichap, is representing the seller, a family partnership.

"This property represents a rare opportunity for an investor to acquire a well-located triple-net industrial property in a prime location," says Wise. "This property also provides an investor with an excellent opportunity to purchase an asset with upside potential over the long-term because of its proximity to Plaza El Segundo, a premier shopping destination."

Located at 645 South Allied Way, the building includes freight forwarding, warehouse, and 9,820 square feet of office space situated on 2.26 acres near LAX and major Southern California freeways. The property is adjacent to the Plaza El Segundo, an upscale shopping center, with such tenants as Whole Foods, Best Buy and Borders

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Filed Under: Industrial

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