LOS ANGELES-A janitorial products supplier has signed a lease estimated at $11 million and for 259,659 sf in unincorporated Los Angeles County and, in a separate transaction, a 1031 exchange buyer based in Florida has paid $8.3 million sale of two buildings totaling 64,000 sf in Sylmar. In the first deal, Staubach Los Angeles reports that Lagasse Inc., a wholesale source for more than 10,000 janitorial and sanitary maintenance products, has taken the space in a long-term lease at the Gateway Pointe project at 3963 Workman Mill Rd.
Terms of the Lagasse lease were undisclosed, but industry sources estimated the deal at about $11 million, based on rates for comparable space. Corey Spound and Tim O'Rourke of Staubach Los Angeles, along with Michael Burns and Kris Bjorson of Staubach Chicago, represented the tenant. The landlord, Carpenter's Pension Trust, was represented by Stuart Milligan, David Hasbrouck and John McMillan of Cushman & Wakefield.
The challenge with Lagasse was finding a space that met its specific building requirements within the desired geographic area, while not exceeding its budget for the move,. Spound says. The new location will function as a regional wholesale distribution center for Lagasse, which is a wholly owned subsidiary of United Stationers Inc.
In the $8.3 million sale, Florida-based EACO Corp. bought two industrial buildings on Gladstone Avenue in a deal brokered by Chris Sullivan of GVA Daum. Sullivan represented the seller, 12460 Gladstone LLC, with the buyer represented by Bob Carter of Commercial Resource.
The two properties sold include a 40,000-sf facility at 12458 Gladstone Ave. where Boeing manufactures search lights for state and federal agencies and a 24,000-sf facility at 12460 Gladstone Ave. that is occupied by Affholder Inc., a private tunnel contractor.
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