Avison Young finalized the $2.68-million sale of a 1.41-acre industrial outdoor storage (IOS) property that will be redeveloped as an approximately 90,000-square-foot self-storage facility.
Located at 943 N. Marianna Ave. in Los Angeles, the site is just east of downtown Los Angeles and provides immediate access to the 10, 710, and 60 freeways.
Principal Patrick Barnes and senior associate Paul Clark represented the seller, a family trust. The buyer, Los Angeles-based Cypress Equity Investments, represented itself.
“Our team focused our marketing strategy and outreach to the self-storage industry as we knew would garner the strongest land value for our client,” said Barnes. “Cypress’ relevant construction experience was the key to this transaction as it is situated on a difficult site to develop.”
