Industrial Sales Top $7M

GARDENA, CA-Four industrial buildings here and in Santa Fe Springs have changed hands in two separate transactions totaling more than $7 million, according to brokers from NAI Capital Commercial and Cushman & Wakefield.

In the Gardena transaction HP Gardena Investors LLC sold a two-building industrial complex totaling 70,295 sf at 245-261 E. 157th St. to LIA Associates LLC for nearly $4.2 million. The seller was represented by Kathleen Howard and Jill Howard of NAI Capital Commercial. One building at 245 E. 157th St. is a 40,822-sf, single-story, seven-unit multi-tenant concrete tilt-up building. The other is a 21,473-sf single-tenant building. Both buildings have heavy power, high clearance, above average parking and locations within a secured, gated yard close to the 110 and 91 Freeways. The NAI brokers say the buyer purchased the two building industrial complex as a fully leased investment and plans to use a portion of the project for future expansion of its importing and exporting business, which is presently located in the City of Vernon. The buyer was represented by Jeffrey Rinkov and Peter Bacci of Lee & Associates.

In the Santa Fe Springs transaction, Cushman & Wakefield’s Jeff Chiate and Rick Ellison represented San Francisco-based real estate investment firm Market Street Properties, in its acquisition of two industrial buildings totaling 40,071 sf for $2.9 million. The fully occupied buildings are located at 13655 and 13101 Bora Drive near Norwalk Avenue and the Golden State Freeway. In the past two years, Market Street has acquired eight small- to medium-sized industrial properties in Orange County and neighboring communities, according to the Chiate/Ellison team, which has represented Market Street in each of its transactions. Rob Leiter and Elizabeth Hughes of Lee & Associates represented the seller, a local investor.