South Bay Project Moves for $5.4 Mil

By remstaff & By Globe Street | August 08, 2001 at 01:01 AM

SIGNAL HILL, CA-Privately held F&B Properties buys 74,453-sf Walnut Avenue Business Park from advisory giant Rreef. Sale price works out to a 9.3% cap rate.

The 74,453-sf development is known as Walnut Avenue Business Park. It stands at 3259 Walnut Ave.

The buyer is F&B Properties, a private investment group based in San Francisco. It was sold by the San Francisco office of Chicago-based pension fund advisor Rreef.

Rreef was represented by a Grubb & Ellis brokerage team of Michael Randall, Dixie Walker and Charley Simpson. The price reflects a 9.3% capitalization rate, the brokers say.

Charlie McCabe of CB Richard Ellis represented F&B properties.

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