DAUM Commercial Real Estate Services directs $63 million acquisition of Class A industrial asset in Los Angeles County

 

 Jordan Lara

PICO RIVERA, CA – DAUM Commercial Real Estate Services has directed the $63 million acquisition of a 173,134 square-foot, Class A industrial property in the Los Angeles County submarket of Pico Rivera, California.

The asset was purchased by Chicago-based industrial real estate investment company CenterPoint Properties from the occupant in an off-market, sale-leaseback transaction, according to Jordan Lara, an Executive Vice Principal at DAUM Commercial.

Jordan completed the transaction alongside DAUM Executive Vice President Rudy Lara and Vice President Nick Peukpiboon.

Rudy Lara 

“This property is a true core investment, providing the buyer the incredibly rare opportunity to add a high-quality industrial property with long-term stabilization in an infill Los Angeles County location to its portfolio,” explains Jordan.

“We were able to effectively demonstrate the current and future value of the property and its location within an emerging submarket, ultimately closing what is one of the highest per-square-foot industrial sales for a building of this quality and size in the county to date.”

The property is located at 8500 Mercury Lane in Pico Rivera, California, less than two miles from the Interstate 5 Freeway.

Nick Peukpiboon

It features a 32-foot clear-height, 24 dock-high doors with the potential for six additional doors, and an ESFR sprinkler system.

 CONTACTS:

Arleeny Escarcega / Elisabeth Manville  
Brower Group  
(949) 438-6262 
aescarcega@brower-group.com 

www.daumcommercial.com.