1028 E 21st Street

Description

DWG Capital Group is pleased to present For Sale or For Lease, a 4,144 sf Industrial building close to the Port of Long Beach and the Long Beach Airport. The building sits on a 4,201 sf (0.10 acre) lot, perfect for supporting shipping/receiving, indoor storage, manufacturing, or distribution. The impressive property features a recently updated bow truss ceiling, a fresh coat of interior and exterior paint, as well as two roll-up door drive-ins (12'w x 10'h). For a lease, the site is an excellent opportunity for a new user to establish a new creative office. Prime for new tenancy. Long Beach is a coastal city that offers more than just a port complex. The port complex is a major industry driver and the Southern California port complex handles nearly one-third of all U.S. cargo volume. The proximity to the Southern California port complex drives a significant portion of tenant demand. That demand, coupled with a strong manufacturing base in Southern California, supports strong market fundamentals. Vacancy rates are historically low at 4.2% and market rent growth is up to approximately $20-25/SF pulling cap rates down to an average of 4% and approximately $400/SF. Sales activity in recent quarters has been strong and demonstrates ample investor demand for industrial properties in the area. Long Beach is a coastal city that offers more than just a port complex. It is the second-largest city in Los Angeles County by population and has a vibrant downtown area that is connected to the region's Metro light rail system. The downtown area has a large convention center, significant multifamily and hotel development, and retail attractions that draw from across the metro. Nevertheless, the port complex is a major industry driver and the Southern California port complex handles nearly one-third of all U.S. cargo volume.