(To read more on the industrial market, click here.)

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VALENCIA, CA-First Industrial Realty Trust of Chicago hasacquired a 125,541-sf building at 27801 Avenue Scott for $10.5million and is marketing the property as a prime location for lightindustrial and distribution users. The Chicago-based industrialREIT bought the property from a private family trust in atransaction brokered by Mike Randall, Bob Crenshaw and Jim Linn ofGrubb & Ellis.

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According to Ryan McClean, First Industrial's regional directorin Los Angeles, the building "would serve as an excellentheadquarters for a company engaged in light manufacturing anddistribution due to its proximity to Interstate 5." The building islocated in the Valencia Industrial Center, one of the region'slargest industrial developments.

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The new acquisition expands a First Industrial portfolio inSouthern California that includes a growing number of properties inLos Angeles, the Inland Empire and San Diego County. TheChicago-based REIT's holdings include completed buildings as wellas land for development.

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