Industrial grabs.Industrial properties in the gritty grit·ty adj. grit·ti·er, grit·ti·est 1. Containing, covered with, or resembling grit. 2. Showing resolution and fortitude; plucky: a gritty decision. warehouse towns of southeastern L.A. County continue to prove attractive. A $50 million fund formed by Koll Co. and the Public Employee Retirement System of Idaho has picked up the 157,669-square-foot Santa Fe Springs Santa Fe Springs, city (1990 pop. 15,520), Los Angeles co., SW Calif., inc. 1957. The city lies in an oil and natural gas region and has diversified manufacturing. Commerce Center for $11.5 million, and P.I. Properties bought the 150,032-square-foot Industry Hill Business Park at 15940-15956 Amar Road in City of Industry for $10.2 million. Koll bought the 27-year-old center, which sits on 8.2 acres at 9920-10020 Pioneer Blvd., from L.A.-based Roll Properties International Associates. The center's seven buildings are 78 percent occupied and the company is planning a renovation, including the facades and landscaping. Stephen Batcheller, first vice president at CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Inc., represented Koll. The seller was represented internally. Alan Airth, managing principal of Newport Beach-based Koll, said it was looking to pick up more industrial properties for the fund's portfolio. P.I. Properties, based in Arcadia, primarily buys apartment complexes and owns buildings with more than 8,000 units across Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . But the firm was attracted by the 25-year-old Industry business park's low 7 percent vacancy rate, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Sperry Van Ness Van Ness may refer to: People
"There is a heightened demand for properties like this in this price range," Pestor said. Industry Hill Business Park's 65 tenants cover a mix of uses. Storefronts open up to the street and warehouse and distribution companies leased space toward the rear of the project. About 50,000 square-feet is used for retailing. "The nice thing about a center like this is there isn't a lot of risk," Pestor said. "When you have 65 tenants and one moves out, it's not going to impact you a lot." The seller, Irvine-based Amar Equities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , was represented by Frank Kosi, a Sperry Van Ness vice president. Staff reporter Andy Fixmer can be reached at (323) 549-5225, ext. 263, or at afixmer@labusinessjournal.com. |
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