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PARAMOUNT, CA-Two buyers have acquired seven units totaling 68,380 square feet at the 157,736-square-foot Somerset Business Park in some of the largest Mid-Counties sales of the recent quarter, according to Voit Real Estate Services. The business park is a five-building, multi-tenant mixed-use development at 7825-7901 Somerset and 14905-15001 Paramount Blvd. that includes 33 office, retail and industrial for-sale units ranging from 1,280 square feet to 14,085 square feet.

One of the buyers, Somerset Holdings LLC, bought a combined total of 59,740 square feet at 7825 Somerset Blvd. Somerset was represented by Rudy Lara of Daum Commercial Real Estate Services. The business park owner, WCP Somerset LLC, was represented by Louis Tomaselli, Mitch Zehner, Cameron Driscoll and Luke McDaniel of the Anaheim Metro office of Voit’s brokerage division.

The Voit team has the exclusive listing for the project and also represented the owner on the sales to the other buyer, Pan Glory Logistics Associates LLC, which bought a combined total of 8,640 square feet at 14925 Paramount Blvd. Pan Glory was represented by Wayne Asu of RE/MAX 2000.

Driscoll says that the recent sales “show the market is reaching a bottom in the Mid-Counties Los Angeles market and buyers are still interested in purchasing quality space in a well-located business park if the price is right.” Somerset Business Park is located close to the 105, 710, 605 and 91 freeways.

The Mid-Counties market, also known as the Mid-Cities market, is a group of submarkets that includes a number of cities in both Los Angeles and Orange counties. According to a third-quarter market report by Voit, sales activity in the Mid-Counties “showed a significant increase over last quarter, posting 618,703 square feet of activity compared to the second quarter’s 273,246 square feet.”

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