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LOS ANGELES-A 76,000-sf manufacturing building in Monrovia has been acquired by an affiliate of Hager Pacific Properties. The buyer has paid $2.8 million for the property.

The facility, which is 100% leased, is located at 1616 S. California. The property is entirely occupied by CCL Label Inc., a Canadian-based manufacturer of packaging labels.

The buyer and the seller, Pasadena-based Avery Dennison Corp., were represented by Scott Evans and Terry Evans of Cushman & Wakefield. Avery Dennison is a Fortune 500 company that develops, manufactures and markets a wide range of adhesive products.

This transaction follows another recent purchase by an affiliate of Hager Pacific Properties. It recently acquired a 350,000-sf warehouse and office complex in Commerce for $13 million, as reported by GlobeSt.com. The property, which was sold by Daetwyler Enterprises Corp., stands at 6277 E. Slauson Ave., a few miles east of Downtown.

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