Hardware Maker Takes Over Container Building

Thetransaction is one of three industrial sales reported by Cushman & Wakefield, ColliersSeeley International and Grubb & Ellis.The new Cal-Royal building was constructed in 1959 and is located at the northeastcorner of Garfield and Flotilla. It was put on the market when Smurfit-Stone closed thefacility earlier this year. "It has become increasingly difficult to find quality industrialbuildings for sale in the Los Angeles area," McMillan says. "Buyers are continuing toscour the market in search of potential opportunities." Cushman & Wakefield receivedmultiple purchase offers immediately upon listing the property, McMillan adds. BuyerCal-Royal, based in Commerce, manufactures and distributes door and lock hardware,and will use the facility to expand its operations, according to Sanita, who along withMcMillan, also represented the buyer.

In Santa Fe Springs, L.A. Supply, a dyestuffs and dyeing chemical distributor since1989, acquired a new 40,380-sf industrial warehouse at 13528 Excelsior Drive fromExcelsior Adams II LLC for $3.6 million. L.A. Supply needed a larger facility toaccommodate growth, according to Brad Christian of Colliers-Seeley International, whorepresented L.A. Supply. The new warehouse, adjacent to the 5 Freeway, doubles thecapacity for the dyestuffs company, which plans to use the space for excess storage.The seller was represented by Cameron Driscoll of Cushman & Wakefield.

In a land deal in preparation for a new development, Argent LLC of Pomona haspurchased five acres in San Polo La Verne Business Park for $1.9 million from LaVerne Holdings LLC of Azusa. The buyer plans to develop three speculative industrialbuildings totaling approximately 96,000 sf. Argent is slated to break ground in Januaryon the project, which will be located at 1669 and 1625 Puddingstone Drive. The threebuildings will be approximately 56,000 sf; 25,000 sf; and 15,000 sf. They will beavailable for sale or lease, with completion scheduled for August 2005. Randy Lockhartof Grubb & Ellis' Ontario office and Rick Sheckter of the firm's San Gabriel Valley officerepresented the buyer and the seller. Lockhart and Sheckter will be marketing thebuildings for Argent.