Ardmore Home Design Buys SoCal Industrial Facility for $60M
The furniture manufacturer’s brand Made Goods has operated its headquarters in the building since 2020.
By Nick Trombola October 28, 2024 4:28 pm
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Southern California’s City of Industry is living up to its name, as another industrial property has sold for just under $60 million in the latest owner-user deal.
Luxury furniture manufacturer Ardmore Home Design acquired the 282,377-square-foot distribution facility at 918 South Stimson Avenue from former landlord LBA Logistics. Ardmore is the parent company of Made Goods, which houses its headquarters and distribution operations at the property.
The deal is a good payday for LBA, which acquired the building in 2016 for $31.8 million. Built in 1981, the property sits on just over 13 acres about 20 miles east of Downtown Los Angeles. Ardmore/Made Goods signed a takeover lease for the building in 2020.
JLL (JLL)’s Patrick Nally, Makenna Peter, Mark Detmer and Evan Moran represented the seller in the deal, while HRS Commercial’s Rick Sherburne and Kyle Sherburne represented Ardmore Home Design. JLL announced the deal.
LBA Logistics and Ardmore Home Design did not immediately respond to requests for comment.
The City of Industry is currently experiencing the highest industrial vacancy rate among submarkets in the San Gabriel Valley, and one of the highest rates across Greater Los Angeles, at 8.5 percent this past quarter, according to a recent market report from Kidder Mathews. That’s a 20 basis point rise from the 8.3 percent reported in the city in the second quarter of this year, per Kidder Mathews.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
