X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DUARTE, CA-An industrial buyer and a tenant have closed deals accounting for more than 123,000 square feet of industrial space. The deals include the acquisition of a 43,942-square-foot building here and the leasing of 79,136 square feet at a project in Santa Fe Springs.

In the Duarte deal, Grubb & Ellis Co. reports that Able Investments LLC sold a 43,942-square-foot industrial building at 1720 Flower Ave. 1720 Flower Ave. within the Lewis Freeway Business Park to Value Windows & Doors Inc. for approximately $4 million. According to Grubb & Ellis senior vice president Rick Sheckter, who represented the seller along with Grubb & Ellis SVP Stephen Lim, Value Windows & Doors will be relocating into 1720 Flower Ave., from several locations within Los Angeles County and expanding under one roof. The company is expected to take occupancy in spring of 2010.

Scheckter notes that the City of Duarte “was very supportive of Value Windows,” whose move will bring manufacturing to the city and will generate sales tax revenue for Duarte. Able Investments’ sister company, Able Card LLC (formerly known as Able Card Corp.), is a manufacturer of plastic cards. The buyer was represented by Don Palmer and Tom Phelan of DAUM Commercial Real Estate Services.

In the Santa Fe Springs lease, sweater manufacturer KBL Group International Ltd. signed a four-year lease for 79,136 square feet of manufacturing space at 9142 Norwalk Blvd. in the Los Nietos Business Center. The lease represents an expansion of approximately 20,000 square feet for KBL, which already subleases nearly 60,000 square feet of space at the property.

KBL Group was represented by senior vice presidents David Wu and Jim McFadden of the Anaheim office of Grubb & Ellis. Landlord AMB Property Corp. represented itself.

Terms of the KBL lease were not disclosed. Los Nietos Business Center is a 213,000-square-foot building situated on approximately eight acres near interstates 5 and 605.

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

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.