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5/27/20
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First Industrial Realty Trust recently picked up two industrial warehouses totaling more than 85k sf in L.A.’s Rancho Dominguez area for $14.35 mil, or $169/sf. The property, located at 19400 and 19302 S. Laurel Park Rd, was sold by a cosmetic products manufacturer.
First Industrial, a Chicago-based publicly traded real estate investment trust, plans to maximize the value of the property’s unmatched infill location by completing a strategic redevelopment, slated for completion in the third quarter of 2021. The redeveloped site will consist of a 28k sf with 15 docks situated on 3.98 acres of land.
Natalie Lara, Jordan Lara and Andrew Lara with DAUM Commercial Real Estate Services brokered the deal for the buyer and the seller. According to Lara, the property’s close proximity to the 710, 91, 405 Freeways and Ports of Long Beach and Los Angeles presented a significant value-add opportunity for the buyer.
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