Lee & Associates Closes $6.6 Million Sale of Walnut Business Center
Torrance, CA – October 26, 2012 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the $6.6 million industrial sale of the Walnut Business Center in the City of Industry, Calif.
Senior Vice Presidents Jeff Bethel of Lee’s City of Industry office and Peter Bacci of Lee’s Los Angeles – Central office represented the buyer, Cook Walnut Property LLC. Bethel also represented the seller, Catesgarb Holdings, Inc.
“Multi-tenant properties rarely come on the market in the San Gabriel Valley and this was a rare opportunity for the buyer to purchase a multi-tenant property in the extremely tight City of Industry market,” said Bethel. “The property is situated in a prime location with freeway frontage and was a perfect match for the buyer who, like many other investors, was looking to invest in hard assets as a hedge against inflation.”
Built in 2001, the 57,412-square-foot space is located at 19555-19575 E. Walnut Drive South. Current tenants in the 9-unit property include Lumber Liquidators, the largest independent retailer in the United States specializing in hardwood flooring, and Vortex Industries, a commercial and industrial door repair and replacement servicer, who both recently extended their leases.
About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at http://www.lee-associates.com.
