$185/SF for 41,460 SF of Flex.

The Location

Baldwin Park sits in the Upper San Gabriel Valley, roughly 20 miles east of downtown Los Angeles along the 10 freeway. Schabarum Avenue is an industrial corridor, not a creative-office address. 

The Setup

Two stories, reinforced concrete, 41,460 gross SF on 34,848 SF of lot, surface parking at 117 stalls.

The typical floor plate is 31,696 SF.  Small mezzanine of about 9,764 SF.

What an Operator Sees

$185 a foot.

100% leased.

Berkeley Partners.

I don't have a rent roll.

I'm keeping the dollar-per-foot.

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Property and transaction data: CoStar Research.

Where This Trades

The deal cleared at $185/SF, which CoStar labels "Full Value" for this submarket and asset class. At a market cap of 6.6-6.7% on normalized rents, the math is consistent with institutional pricing for stabilized suburban flex in the San Gabriel Valley. A private operator looking for value-add spread would have needed a lower basis, probably in the $155-$165/SF range, to justify the lease-up risk and capex exposure on a 39-year-old shell. Berkeley Partners, with $771.5M in acquisitions activity on record, is not buying this for a quick flip. They are buying stabilized cash flow with a rent-growth optionality kicker as leases roll.