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SANTA FE SPRINGS, CA-An affiliate of Robertson Properties Group of West Los Angeles has secured $13.3 million in refinancing for a 355,590-square-foot industrial building here, according to Matt Douglas of Manhattan Beach-based Venture West Funding Inc., which arranged the financing. The refinancing is one of three industrial deals to close in the area recently, including a $5.2 million sale and a 31,000-square-foot lease.

The Robertson Properties building that was refinanced is a single-tenant building at 11204 S. Norwalk Blvd. Douglas, who arranged the financing through Prudential Mortgage Capital, says that the financing is a 10-year fixed, non-recourse loan amortized over 30 years. “This lender offered the most competitive rates and greatest flexibility for our borrower,” says Douglas, who notes that Venture West is continuing to close on financings despite the general real estate credit crunch and the tightening of underwriting standards.

In the $5.2 million industrial sale, Grubb & Ellis Co. reports that Ottogi America Inc., a Korean food company, bought a 41,097-square-foot industrial building at 1650 W. El Segundo Blvd. in Gardena from 1650 Ocean Property LLC. The seller was represented by senior vice presidents Brian Held and Dennis Ingram along with associate Gray Garret of Grubb & Ellis. The buyer, who was represented by Austin Kim of Solomon Realty, will fully occupy the property for its storage needs. Newly constructed in 2009, the building is situated on approximately 1.8 acres close to interstates 110 and 105, as well as the Jack Northrop Field/Hawthorne Municipal Airport.

In the 31,000-square-foot lease, Brandon Carrillo of Charles Dunn Co.’s Long Beach office reports that Surface Preparation Solutions LLC has leased the space for 62 months in a building at 3900 Orange Ave. that is owned by One Fam LLC. Terms of the deal, in which the tenant received two months of free rent and what Carrillo describes as a low lease rate, were not disclosed.

According to Carrillo, who represented the tenant, the transaction reflects “a reoccurring theme in our market, as businesses are being forced by the market to reevaluate costs.” He says that tenants today are looking for “properties and landlords that would be willing to work with them to reposition their real estate as a stronger asset.” Surface Preparation Solutions is a provider of abrasives, equipment and replacement parts for abrasive blasting and other applications.

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