A private investor hasacquired the Laurel Park Commerce Center from PRGInvestment Management for $10.45 million or $200 persquare foot, which is the highest price paid for a comparably sizedbusiness park in the South Bay market.

The property is located on 3.6 acres and was built in 1986. Itoffers plenty of upside with 80% of the property vacant and allcurrent tenants on month-to-month leases.

Michael Kendall and Gian Brunoof Colliers International and SteveBohannon of Cushman & Wakefieldrepresented PRG in the transaction. Eric Strauss of America WestProperties represented the 1031 exchange buyer.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.