CITY OF INDUSTRY, CA-Dexus Property Group, an Australian REITthat arrivedin Southern California the summer of this year with the announcedintention of buying $600 million of West Coast industrial space,has acquired a 157,328 square-foot, multi-tenant industrialproperty here that generated an “overwhelming” response fromprospective buyers, according to Voit Real Estate Services brokerswho marketed the deal. “We received an overwhelmingly positiveresponse to our strategic marketing campaign, including a widenumber of purchase offers from qualified institutional and privateinvestors,” said Alan Pekarcik of Voit’s Irvine office, whorepresented both Dexus and the seller along with Voit’s Dan Vittoneand Nick Frasco.

Pekarcik says that the bidding for the asset demonstrated “theheavy demand for a core multi-tenant industrial product in the L.A.market." The property, called Industry City Center, is a 100%occupied, institutionally managed project at the intersection of1100 Hatcher Ave. and 17521 and 17531 Railroad St. It featuresdock-high served warehouse space ranging from 4,600 square feet to11,400 square feet, located near the 60 Freeway.

Pekarcik called the transaction “one of the smoother our teamhas facilitated due to Dexus’ ability to close in a timely manner,”and pointed out that the Pekarcik-Vittone team has completed morethan 100 sales of business parks over the last 20 years.