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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.


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.


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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