HESPERIA, CA-Hager Pacific Properties of Newport Beach has sold the former HeiligMeyer distribution facility here for $16 million, and Rexford Industrial of Los Angeleshas acquired a Fullerton asset for $13.4 million in a separate transaction.Hager Pacific sold the former Heilig Meyer facility to a private investor. The propertyonce served as a distribution hub for Heilig Meyer before the furniture firm wentbankrupt.

In the Fullerton transaction, Rexford Properties LLC acquired a 161,129-sf industrialpark at 2300-2386 E. Walnut Ave. from a San Francisco-based limited liabilitycorporation operating as Market Street Properties, according to Cushman & Wakefield. The property is called the Fullerton Business Center and is a 20-year-old industrialpark that was 85% leased at the time of the transaction, according to Cushman &Wakefield’s Jeff Chiate, who along with Rick Ellison represented both parties in thetransaction. The Cushman & Wakefield team also represented Market Street when itacquired the property in January 2003 from Irvine-based real estate investmentcompany CIP Real Estate.

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