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12/01/14
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Here’s an update on four San Gabriel Valley industrial sale and lease transactions totaling over 49k sf that occurred over a recent 30-day period in deals totaling about $4.8 mil. Three of the deals were sales while the fourth was a lease.
All three of the sales transactions were for owner/user acquisitions. Two of the buyers will be utilizing the buildings for machine shop operations and the third buyer will be warehousing general merchandise.
The property that was leased had been vacant for the past year due to the buildings being older and functionally unique with a variety of complications and restrictions. The tenant signed a five-year deal and assumed all tenant improvement responsibilities.
Ryan Campbell with NAI Capital’s San Gabriel Valley East office and Rick Sheckter of Newmark Grubb Knight Frank’s City of Industry office represented the sellers in all three sale transactions. Campbell also repped the landlord in the lease.
The four (4) transactions include:
IRWINDALE: C & Y Investments LLC purchased an 11.5k sf industrial property located at 2399 Miguel Miranda St from Tifal Properties LLC for $1.75 mil.
AZUSA: –JAR Machine and Fabrication purchased a 14k sf industrial property located at 1031 West Kirkwall Rd from Basha Bros Two for $1.6 mil.
IRWINDALE: Sullivan Construction purchased a 7.5k sf industrial property located at 15777 Ornelas St from Jordan Trust for $1 mil.
AZUSA: PCI Inc leased a 16.2k sf industrial building located at 975 West 1st St from Hill Brook LLC in a lease valued at $489k.
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