Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-Buyers have purchased industrial buildings here and in Vernon, Torrance, Commerce and Valencia in transactions totaling $43.8 million. In the largest of the transactions, Layton Belling Associates of Newport Beach bought the 222,500-sf 49th Street Industrial Center in Vernon from Los Angeles-based Mani Bros. for $16.5 million, reports Bob Safai of Madison Partners, which brokered the sale on behalf of the seller. Safai describes the property as a four-building industrial complex at 2000, 2050, 2080 and 2100 East 49th St. The project comprises warehouse, manufacturing and distribution space, along with 225 parking spaces and a location near major freeways.In an $8.4-million sale in the South Bay, Chris Houge of Madison Partners reports that Inspired Ventures LLC acquired a freestanding industrial building of 209,000 sf at 2545 W. 190th St. from Storage Etc. The building is 100% leased and occupied by Honeywell and Storage Etc. Honeywell occupies approximately 50,000 sf while Storage Etc. leases 150,000 sf. Houge represented both the buyer and the seller.In another South Bay deal, a Los Angeles-based private investment group purchased a 74,038-sf building at 20900-20910 Normandie Ave. in Torrance from Los Angeles-based Pacifica Normandie LLC for $6.9 million. The buyer and the seller were represented by Kevin Shannon, Michael Moore, Scott Schumacher and Sean O’Donnell of the South Bay office of Grubb & Ellis. The building was 73% leased at the time of the sale. In Commerce, Chicago-based paperboard and packaging manufacturer Smurfit-Stone Container Corp. sold its former plant at 6605 Flotilla Ave. to Cal-Royal Inc. for nearly $6.3 million. John McMillan and Jeff Sanita of Cushman & Wakefield represented the seller, along with Vincent F. Vatterott of Michelson Commercial Realty of St. Louis. The 106,752-sf concrete tilt-up building was constructed in 1959 is located at the northeast corner of Garfield and Flotilla. It was put on the market when Smurfit-Stone closed the facility earlier this year. The Commerce-based buyer manufactures and distributes door and lock hardware, and will use the facility to expand its operations, according to Sanita, who along with McMillan, also represented the buyer in the transaction. In the Valencia transaction, a Ventura-based investment group called Marcus Adams LLC purchased a 75,055-sf building at 29101 the Old Road from Los Angeles-based CB Richard Ellis Investors LLC for $5.7 million. The two-story, concrete tilt-up building was vacant at the time of sale. Chris Jackson and Todd Lorber of the Grubb & Ellis North Los Angeles office represented the buyer, with the seller represented by Craig Peters and Doug Sonderegger of CB Richard Ellis. Marcus Adams has leased the facility for a seven-year term to KBI Industries, a manufacturer and distributor of plumbing supplies, which is slated to occupy the building in September. The company will be relocating from 54,800 sf of leased space in Valencia and a 22,000-sf building the firm owns in Murrieta.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.