LOS ANGELES-American Reality Capital Trust Inc., a New York City-based REIT, has bought two distribution facilities occupied by tenants Brown Shoe Co. and Payless for $68.78 million. The REIT purchased the facilities from Clayco Construction Co.
One of the distribution facilities is situated in the Tejon Industrial Complex. The 351,723-square-foot building leased to Brown Shoe is located at 5621 Dennis McCarthy Drive, and it was bought for $23.85 million. Colliers International and Chicago-based Venture One Real Estate represented the seller in the deal. For the full story, go to San Fernando Valley Business Journal.
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