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7/20/16
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LaSalle Investment Management has purchased the Valencia Industrial Portfolio, a five-building, 491.6k sf portfolio located in the Los Angeles suburb of Valencia. The fully leased portfolio was sold by Clarion Partners for $64 mil ($130/sf).
The portfolio is located one mile from I-5, 60 miles from the Los Angeles/Long Beach ports and within 40 miles of two international airports. The acquisition includes:
28150 W Harrison Parkway: 87k sf
28145 W Harrison Parkway: 114k sf
28904-28912 Avenue Paine: 117k sf
24823 Anza Drive: 31.3k sf
25045 Avenue Tibbitts: 142.4k sf
Bo Mills, Mark Detmer and Brad Koehler of JLL represented Clarion Partners in the deal.
“The Valencia Industrial Portfolio offered quality assets occupied by credit tenants in a market with great connectivity,” said Mills. “With a limited supply of Class A warehouse product in Southern California and in-place rents below market value, this deal represented a prime opportunity for both the buyer and seller.”
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