2936 Farrar Ave
Industrial asset with cranes and long-term tenancy in Modesto’s Beard Industrial Park.
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Tenant Summary
Established company with a well-known reputation in California’s flooring industry.
Strategic and sophisticated operator in place to expand the brand and strengthen the company’s financials.
Distribution hub in Modesto, California to facilitate efficient operations to the locations throughout northern and southern California.
According to an IBISWorld report, the flooring industry in California would expand to $4.5 billion in 2025.
About Flooring Liquidators
Founded by Steve Kellogg in 1997, Modesto, California–based Flooring Liquidators provides floor, cabinets, countertops, and installation services in California and Nevada, operating 20 warehouse-format stores and a design center. Over the years, the company established a strong reputation for innovation, efficiency, and service in the home renovation and improvement market.
Flooring Liquidators serves retail and builder customers through two businesses: retail customers through its Flooring Liquidators retail stores, and builder and contractor customers through Elite Builder Services, Inc., which services national builders.
In January of 2023, it was announced Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding company (“Live Ventures”), had acquired Flooring Liquidators. The transaction was valued at approximately $84 million. The Flooring Liquidators company and brand fit seamlessly into the company’s strategy and portfolio. The acquisition dramatically increased Live Venture’s sales figures.
Investment highlights
Established Commercial Asset: This 38,000 sq ft two-building industrial manufacturing and warehouse facility, built in 1971 and 2022, is situated on a 2.5-acre lot within Modesto’s well-established Beard Industrial Park. One of the two main buildings was constructed in 2022 and is equipped with cranes, enhancing its functionality for heavy fabrication work.
Stable Long-Term Tenancy: The property is currently occupied by Flooring Liquidators, a reputable tenant specialising in flooring sales and installation, providing a consistent and reliable income stream for investors.
Strategic Operational Site: This location serves as the company’s primary countertop and slab yard supporting its Northern California retail operations. Flooring Liquidators operates the site through its subsidiary, Elite Builder Services, which uses this property as its only fabrication shop, making it a critical component of their supply chain and overall business operations.
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