CITY OF INDUSTRY, CA-Owner-users here and in Pomona haveacquired two industrial buildings totaling more than 319,000 for atotal of $18 million, according to CB Richard Ellis brokers whowere involved in the sales. In the City of Industry, American Paper& Plastics acquired a 296,960-square-foot building at 500 S.Seventh Ave. for $15.3 million , and in Pomona, Maxxsel Apparelbought a 22,135-square-foot building at 1613 W. 2nd St. for $2.7million.

The City of Industry deal ranks as the largest industrial salein the San Gabriel Valley in 2010, according to the CBRE team ofDavid Fults, Kevin Shannon and Todd Tydlaska who represented theseller, iStar Financial. American Paper & Plastics plans tooccupy half of the building in a relocation from its headquartersin El Monte.

Shannon describes the sale as, "another example of an owner-userlooking for an opportunity to buy an investment-quality buildingrather than continue to lease space." This is an increasing trendwith owner-users, who have accounted for approximately 33% of allmajor office and industrial sales since 2009, Shannon pointedout.