Bales: u201cThe South Bay continues to be a competitive marketplace for these kinds of deals.u201d

CARSON, CA—Prologis has acquired a 10-acre industrial land parcel from Hunter Woodworks for $14.2 million. The parcel is located at 21038 Wilmington Ave. in Carson.

“Prologis has been interested for quite some time and we were able to facilitate a deal very quickly, effectively meeting the needs of both parties,” says David Bales, a principal at Lee & Associates Los Angeles-Long Beach office who represented both the buyer and the seller in the transaction. “The South Bay continues to be a competitive marketplace for these kinds of deals, with few quality listings coming on the market.”

With little industrial supply available close to the city, properties are quickly scooped up. This trend isn’t exclusive to developers and industrial property sales either. Last week, GlobeSt.com reported freight exporter PCC Logistics signed a 10-year lease for a 207,538-square-foot industrial space at 241-1245 Watsoncenter Rd. in Carson, nearby this plot of land. The 10-year lease was valued at $15.

David Bales was unable to comment on the sale prior to publication. We will update the article as more information about the transaction becomes available.