VERNON, CA-TriMas Corp. sells a 22-acre site at 5215 S. BoyleAve. in Vernon to AMB Property Corp. Originally developed from the1940s through the 1960s to support Norris Industries defenseoperations, 5215 S. Boyle Ave. includes more than 400,000 squarefeet of heavy manufacturing buildings with several existing leasescurrently in place.
Cushman & Wakefield represented the seller and procured thebuyer, and could not disclose the purchase price to GlobeSt.com atthis time, however according to an SEC filing, the purchase pricewas for $13 million, all cash. AMB would not confirm the price. AMBplans to market the vacancies at the property in the short-termwith a long-range goal of repositioning the site in order tomaximize the significant upside potential in the land enhancing thevalue of the parcel.
The purchase represents AMB’s first development project inVernon, a city that consists almost entirely of industrialproperties located approximately five miles southeast of LosAngeles. The city is home to more than 1,800 businesses whichemploy approximately 50,000 individuals. Vernon also consistentlyboasts one of the lowest vacancy rates in the greater Los Angelesarea.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
