In the $17.2 million deal, Lee & Associates reports thatJacob Kahobian, owner of Paper Source Converting &Manufacturing, bought two industrial buildings located at 4700 and4800 Santa Fe Ave. totaling 180,932 sf. "The transaction was verycomplicated, given the current financial crisis in the creditmarkets," says Peter Bacci, a senior vice president with Lee &Associates' Los Angeles Central office. Bacci and Jack Cline, asenior vice president at the Lee L.A. Central office, representedthe seller, Santa Fe Properties LLC. The buyer was represented byJohn Repstad and Mark Repstad of Binswanger Realty Advisory GroupInc.

Paper Source will use the facility to manage its new businessoperations. The company plans to improve the property to suit itsmanufacturing specifications. The site was previously home to IvyHill, a printing and media packaging company owned by Toronto-basedCinram International.

In the Pomona transaction, Seventh Street Development reportsthat the American subsidiary of China National Aero-TechnologyImport and Export Corp. (Catic USA) has purchased a new 22,234-sfindustrial building at Seventh Street's Mission-71 Business Parkfor $3.3 million. Catic USA, which is relocating from nearby Cityof Industry, was drawn by the new construction as well asPomona'slower property taxes, according to Seventh Street's CraigFurniss. The building sale is the fifth this year at the 460,000-sfMission-71.