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12/15/14
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In an LA-area industrial buy, DCT Industrial Trust paid $12.3 mil for a 101.7k sf ($121/sf) distribution building in Rancho Dominguez. The facility, located at 3136 Victoria Ave, was sold by CT Realty.
The property is 100 percent leased by LMD Integrated Logistics, an integrated warehousing, distribution and logistics company with more than 20 locations nationwide. The company uses the building as its corporate headquarters and has leased the property through November 2020.
The Victoria Ave location is less than a mile from the I-710 and SR-91 freeways with close proximity to the I-110 and I-405 freeways and the Ports of Long Beach and Los Angeles. The building features 20 dock-high positions with 22’ to 24’ minimum clear height and 120’ truck courts.
According to Marc Belluomini, executive vice president of operations and asset management for CT Realty, the company acquired the property in a joint venture with American Realty Advisors in April 2012.
“Since acquiring the Victoria building, the South Bay industrial submarket has experienced a strong resurgence,” Belluomini said. “At the same time, demand for product with this amount of available space has also increased, making the timing of the sale optimum for CT.”
Darla Longo, Barbara Emmons, Michael Kendall, Rebecca Perlmutter and Tres Reid, all with CBRE, represented both CT Realty/American Realty Advisors and DCT in the sale.
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