X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANTA FE SPRINGS, CA-Industrial sales here and in Simi Valley, along with a medical office building deal in Pasadena, total $24.1 million as owner-users and investors close on four sales. The deals were brokered by GVA Daum, the Charles Dunn Co. and Lee & Associates.

In the Santa Fe Springs deal, Los Angeles investors doing business as John Street LLC paid $12.8 million for a fully leased, 182,566-sf industrial facility on 7.3 acres at 9601-9603 John St., according to Chris Migliori in GVA Daum’s Anaheim office. Migliori represented both the buyers and the seller, Cambridge Leasing Corp. of St. Louis. The building is occupied by US Traffic Corp., a manufacturer of traffic and pedestrian lights, signals, light controllers, electronic message signs and flashers.

In the Pasadena sale, Young Properties bought a 32,562-sf medical office building from Cal Ray Medical Building Partnership for $8.1 million, according to Bob Harrison and Dennis Slattery of Charles Dunn’s downtown Los Angeles office, who represented both parties. Built in 1984, the property is located at 55 E. California Blvd. and is 100% leased. In addition, Charles Dunn Real Estate Services was awarded the property management contract for the building, with senior portfolio manager Eileen Conn named as the account manager for the property.

In the Simi Valley transactions, Lee & Associates reports that the final two freestanding class A industrial buildings in Phase II of the Tapo Business Park sold for prices ranging from $154 per sf to $158 per sf. The prices represent new benchmark rates for industrial buildings in the region, according to Lee, which represented seller D&B Simi LLC in both sales.

The Calabasas-based Lee & Associates LA North/Ventura team of Mike Tingus, Randall Kobata and Colin Foutz brokered one of the sales, an all-cashtransaction in which a private investor bought a 14,000-sf facility at 4583 Ish Drive for $2.1 million. The building was leased to Youngblood Skin Care before the close of escrow, with Foutz and Tingus representing the building owner and Bob Kahn of CB Richard Ellis representing the tenant.

At 4487 Ish Drive, an owner user paid $2 million for a 13,000-sf building, with Joel Hutak of Delphi Business Properties representing the buyer. Foutz, Tingus, Kobata and Scott Linklater represented D&B Simi and will be the listing agents for Phase III, which is scheduled to break ground in the fall.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.