IRWINDALE, CA-McMahon Development Group of Solana Beach has paid $14 million for Irwindale Business Park, a fully occupied, four-building complex, in one of the largest industrial transactions this year in the city.

According to Dennis Sandoval of the City of Industry office of GVA Daum, McMahon purchased the 127,563-sf complex from Irwindale Towers Associates LLC in a transaction brokered by Sandoval and Allen Schanhaar of GVA Daum’s South Bay office. Sandoval notes that the property attracted 16 offers from qualified buyers. He calls it a value-added deal in which the buyer benefits from six acres of surplus land that McMahon plans to develop into industrial condominiums for sale or lease. The existing four buildings are located on 11 acres near the intersection of Irwindale Boulevard and Arrow Highway. Addresses for the four buildings are 5312-5358 Irwindale Blvd. Irwindale Business Park is a single-user and multi-tenant development accenting flex industrial space featuring a high percentage of office area combined with light manufacturing uses.The Irwindale deal underscores the interest in industrial properties from investors and owner-users alike, including chains like Whole Foods Market, which has signed a 10-year lease with the owners of a 93,558-sf warehouse and cold storage facility in Vernon. The Austin, TX-based retailer of natural and organic foods with 162 stores in the US and United Kingdom, will use the entire building at 2307 E. 49th St. to house its Southern California produce distribution warehouse, currently located at nearby 2145 E. 49th St. Constructed in 1995, the new facility is more than twice the size of the retailer’s existing 41,500-sf distribution building and features nearly 35,000 sf of refrigerated cooler space, according to Cushman & Wakefield’s John McMillan, who along with lead broker Patrick Gilhooly of the Clover Co. represented Whole Foods. The Southern California produce distribution warehouse serves 23 stores in Southern California, Arizona and Nevada. The landlord, A&R Management and Development Co., was represented by Anthony Brent of ABC Real Estate Services.

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