Manufacturer's Purchase Expands HQ

IN Santa Fe Springs, Newport Beach-based commercial real estate investment firm WLA Investments has sold its Imperial Commerce Center for $4.2 million to IH-Industrial LLC, a Woodland Hills-based development company. Imperial Commerce Center is a 51,256-sf multitenant, single-story industrial at 13805 E. Imperial Highway that was approximately 90% leased at close of escrow. WLA acquired the property as a value-added play in 2002, says Dan Vittone of Voit Commercial Brokerage's Irvine office who, along with Alan Pekarcik and Paul Caputo of Voit's Anaheim Metro office, represented the buyer and seller. WLA realized its goals on the acquisition earlier than expected due to the high demand for industrial parks and attractive financing available, Vittone says. The buyer will still be able to significantly improve its returns by bringing the existing tenant leases, most of which are month-to-month, to market levels, Vittone notes.

In a Santa Clarita transaction, Neotech Products, a manufacturer of neo-natal, pediatric and respiratory products, has paid more than $2 million for a 22,470-sf industrial building in afive-fold expansion and relocation from Chatsworth, according to Joel Hugtak of Delphi. Neotech's new headquarters occupies just over an acre of land at 27822 Fremont Court. Hutak represented Johnson Engineering, the seller, with the buyer represented by Beitler Commercial. Neotech will occupy approximately 14,470 sf of the building, with the balance of 8,000 sf occupied by TechnicalTroubleshooting. The new Neotech headquarters is a concrete tilt-up structure featuring 3,000 sf of office space, 4,000 sf of mezzanine storage space, two ground level doors, 16 foot minimum interior clearance and on-site parking for 53 cars.