Oil Company Buys Industrial Property

SANTA FE SPRINGS, CA-JM Oil Co. bought a 16,998-sf industrial building at 13535 Marquardt Ave. for $1.2 million from a private investor based in Beverly Hills.

Chris Giglio of Grubb & Ellis, who represented the buyer, says the purchase is a relocation for JM Oil, which is a distributor of products targeted at the automotive industry. JM has moved into the new building from its former quarters in nearby San Pedro, Calif. Guy Margallo of New Phoenix Management Company represented the seller, whose property was part of Marquardt Business Center.

Giglio says the deal was one of two owner-user transactions that closed recently in Santa Fe Springs. In the other deal, Integrity Construction Services bought a 12,272-sf industrial building at 13940 Maryton Ave. for nearly $1 million from the Griffin Family Trust of La Mirada. Giglio represented the buyer in the Integrity Construction transaction, while Jim Kuhne of CB Richard Ellis represented the seller.