Rexford Plans Industrial Conversion

In another industrial transaction, this one in the South Bay market, GVA Daum reports that First Industrial Realty Trust Inc. of Chicago has paid $4 million for a 73,195-sf distribution facility on 4.5 acres at 200 W. Artesia Blvd. in Rancho Dominguez. David Freitag and Steven Taylor in the downtown Los Angeles office of Daum represented both First Industrial Realty Trust and the seller, Calsak Corp., which was the building's former occupant. Freitag, Taylor and Chuck Brill of GVA Daum's South Bay office will market the building for sale or lease on behalf of First Industrial.

A third industrial transaction, in downtown Los Angeles, involved one of the few large industrial development sites still available there, a 6.6-acre parcel at 4671 Worth St., near Cal State Los Angeles. Dwight Hotchkiss of Cushman & Wakefield, who represented both parties in the transaction, reports that Los Angeles-based Dynamic Builders Inc. bought the property for $3.4 million from Castrol Industrial of North America Inc. The site, which was last used more than 10 years ago, is near the I-10 and I-710 interchange. Dynamic Builders, which specializes in build-to-suit transactions, plans to develop up to four industrial warehouse or manufacturing buildings for several users.