OXNARD, CA-An industrial firm has purchased two buildings in Oxnard in a $2.3M transaction.
Spatz Laboratories purchased a 15,207sf property at 1400 Stellar Drive a neighboring 13,312sf property at 1450 Stellar Drive, both in the Channel Islands Business Center in Oxnard. The buildings are across the street from Spatz’ existing 60,000sf facility. The buildings were purchased to allow for future expansion of the company.
Sales activity for industrial buildings in Ventura County has continued at a brisk pace as prices continue to decline, said John Ochoa, a principal at Lee & Associates-LA North/Ventura, who represented Spatz in both acquisitions with Lee principal Grant Harris. Ochoa said as of the end of 2012, the median price of industrial buildings sold in the region was $93.45 per sf, down 12 percent from the prior year.
The team of Ochoa and Harris also recently sold a 35,028sf industrial building in Channel Islands Business Center for $3.3 million.
Ochoa and Harris, along with Jeff Bethel, senior vice president at Lee & Associates-City of Industry, also represented the seller, Susanna Newton Campbell, in the 1450 Stellar Drive transaction.
The seller of 1400 Stellar Drive, The Wynveldt Family Trust, was represented by Paul Ferry at CBRE.