LOS ANGELES-Industrial buildings totaling more than 203,000 sf have traded in sales here and in Pomona. One sale closed for $17.2 million, while another relocated an import-export firm from nearby City of Industry.

In the $17.2 million deal, Lee & Associates reports that Jacob Kahobian, owner of Paper Source Converting & Manufacturing, bought two industrial buildings located at 4700 and 4800 Santa Fe Ave. totaling 180,932 sf. “The transaction was very complicated, given the current financial crisis in the credit markets,” says Peter Bacci, a senior vice president with Lee & Associates’ Los Angeles Central office. Bacci and Jack Cline, a senior vice president at the Lee L.A. Central office, represented the seller, Santa Fe Properties LLC. The buyer was represented by John Repstad and Mark Repstad of Binswanger Realty Advisory Group Inc.

Paper Source will use the facility to manage its new business operations. The company plans to improve the property to suit its manufacturing specifications. The site was previously home to Ivy Hill, a printing and media packaging company owned by Toronto-based Cinram International.

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