(Read more on the industrial market.)

|

RANCHO DOMINGUEZ, CA-Investors have acquired 354,000 sf ofindustrial buildings here and 255,000 sf of properties in Santa FeSprings that offer a variety of options for their new owners,according to brokers from Colliers International and VoitCommercial Brokerage. In the largest of the deals, ColliersInternational reports that Realty Associates Advisors LLC bought afour-building portfolio totaling 301,392 sf from the locally basedWatson Land Co.

|

The portfolio included four single-tenant facilities at 18420,18700 and 18747 Lauren Park Rd., along with a property at 3025 E.Victoria Rd. According to SVP Michael Ross of the Ross-CórdovaInvestment Team at Colliers that brokered the sale, the four leasedbuildings are a sign of the "high demand and very low vacancies" inthe industrial submarket. Team member Fred Córdova notes that theindustrial portfolio presents a number of alternative investmentstrategies for the buyer, such as potential repositioning of theproperty or selling to an owner or user in the future.

|

Ross, Córdova and Steve Nanino of Colliers International, andTodd Taugner of the Klabin Co., represented Watson and RealtyAssociates Advisors. The same team also represented Watson andbuyer Guthrie Development Co. of Costa Mesa in Watson's sale of itsAlameda Business Center, a 52,825-sf class-A multi-tenant businesspark. The business center was 100% occupied at the time ofsale.

|

The Santa Fe Springs properties sold in two deals. In one,Vernon Avenue Associates LLC bought a 163,578-sf industrialproperty at 8808-8840 Pioneer Blvd. and 8825 Millergrove Dr. fromPioneer-Millergrove Venture LP for $10.8 million. The property,which was constructed in several phases from 1954 to 1967, wasoriginally a Bell Brands Foods facility. The buyer and the sellerwere represented by Mike Hefner, Alan Pekarcik and Dan Vittone ofVoit Commercial Brokerage.

|

In the other Santa Fe Springs transaction, Metropolis Partnersbought a 91,000-sf industrial property located on 4.42 acres at14420 Bloomfield Ave. in a $12-million deal that included the$10.5-million sale of the property as well as the sale of $1.5million in specialized equipment. The buyer and the seller, theTengu Corp., were both represented by Jonathan Larsen and EricMoore of Transwestern, who also have landed the leasing assignmentunder the new owner.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.