Acting as an adviser to an institutional investor, the Boston-based buyer acquired the building for $62.80 per sf, according to Cushman & Wakefield's Ed Smith. Smith and Jim McFadden of Grubb & Ellis Co. represented the Dalton, GA-based carpet manufacturer in the sale/leaseback.
The building, which features 41-foot clearance heights, has served as Beaulieu's regional distribution center since it was constructed in 2000. Beaulieu is the world's largest privately owned and third-largest carpet manufacturer.
Smith says the transaction illustrates the continued institutional investor's interest in large industrial buildings in the Los Angeles area. In the past 12 months, TA Realty has acquired a 318,000- sf building in Chatsworth and a 272,000-sf building in the City of Commerce.
The Beaulieu of America building at 15300 Desman Rd. is in the 112-million-sf Mid-Cities industrial submarket, which ended last year with an overall vacancy rate of 6.7%. TA Associates was represented by Al Pekarcik of Voit Commercial Brokerage.
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