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Galbreath arranges sale of LA industrial building.

Galbreath arranges sale of LA industrial building

bus. The terms of the sale were not disclosed.

Continental Baking Co., which is a subsidiary of RalstonPurina, maintains operations globally and is known for such labels as Hostess and Wonder Bread. The local site houses its manufacturing, warehouse and distribution operations, where several hundred employees work three shifts per day.

Commenting on the transaction, Coopchik said, "In addition to ensuring that hundreds of jobs and a major corporate presence remain in the area, this sale is a welcome indication of investor confidence in downtown Los Angeles."

In a transaction negotiated by the Capital Investment Division of The Galbreath Company, the 120,000-square-foot industrial facility at 6007 South St. Andrews Place in downtown Los Angeles, long home to Continental Bakeries, has been sold.

Continental will remain in the building. Peter Ricker, president of Galbreath, made the announcement.

Scott Coopchik, senior managing director and head of the Capital Investment Division, negotiated the sale on behalf of both the buyer and the seller, 100 Broad Street Associates of
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Title Annotation:6007 South St. Andrews Place
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Dec 4, 1991
Words:173
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