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10/12/15
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In a recent LA-area industrial buy, Dedeaux Properties purchased eight industrial buildings totaling 121.2k sf in Santa Fe Springs for $12.5 mil ($103/sf). The buildings, located near the 5, 91 and 605 freeways, were sold by Adaya Family Trust.
The freestanding buildings range from 10k sf to 24k sf in size and are located on or near the Milroy Place cul-de-sac in the center of Santa Fe Springs’ industrial market. Features include fenced yards, 18-foot clearance height and dock-high doors.
Tom Dorman and Steve Young of CBRE represented the seller in the deal. The sale was also facilitated by Meridian Group Ltd on behalf of the seller.
“With a current vacancy rate of less than one percent in the Mid Counties market, a historic low in this area, this sale represented a rare value-add opportunity to buy multiple free-standing buildings all located within close proximity to each other, ,” said Young. “Two of the buildings will be immediately refurbished while the others are occupied by tenants with various lease expirations.”
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