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SANTA FE SPRINGS, CA-LBA-VIF I, a partnership of Newport Beach, Calif-based real estate investment and management company Layton-Belling & Associates and AEW Capital Management, bought the 457,521-sf Town Center Business Park for $33.5 million from Town Center Associates, an entity advised by UBS Realty Investors LLC.

The park consists of eight industrial and two office buildings on 27 acres at the southeast corner of Telegraph Road and Pioneer Boulevard near the Golden State (5) and San Gabriel Valley (605) freeway interchange.

Completed in 1989 the property features 277,308 sf of industrial space in eight buildings and and 180,213 sf of office space in two buildings. It is 82.5% leased to tenants including Allstate, Lectra Systems, Xerox and Pacific Business Bank.

The business park is in the Santa Fe Springs industrial market, one of the largest industrial markets in Los Angeles County with an inventory more than 53 million sf and a vacancy rate of 3.7%, according to Cushman & Wakefield statistics.

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