Industrial purchase.

Tempted by dollar signs in the City of Industry market, Lowe Enterprises Inc. has sold an industrial building there after it had tried for a few months to lease it.

Lowe sold the 131,617-square-foot building to Alliance Commercial Partners LLC, a Denver-based real estate investment company. According to sources with knowledge of the area industrial market, the building at 14955-14971 East Salt Lake Ave. was sold for about $12 million.

"They decided they wanted to sell it because the sale price range is much stronger than the leasing market," said Lynn Knox of CB Richard Ellis Group Inc., who represented Lowe. "There is more competition in the leasing market but not in the sale market."

At $91 per square foot, the deal is a market rate transaction. Industrial space in the area usually sells in the $85 to $100 per square foot price range.

Lowe, a real estate investment, management, and development firm based in Los Angeles, purchased the building in 2005 from Tulip Corp. Tulip did a lease-back deal with Lowe and continues to occupy 51,000 square feet. Alliance will lease out the remainder of the building, divided into four units.

Lyn Eisenhower of CB Richard Ellis also represented Lowe. Barbara Emmons and Darla Longo, also of CB Richard Ellis, represented Alliance.