Prologis Purchases Another Industrial Property in Compton

-
By The Hoyt Organization -

Torrance, CA – October 3, 2012 – (RealEstateRama) — Prologis, a leading global owner, operator and developer of industrial real estate, has acquired an industrial property in Compton, Calif. Peter D. Bacci and Jack Cline of Lee & Associates, one of the leading broker-owned commercial real estate firms in the nation, represented the buyer and seller of the 132,926-square-foot property, located at 175 East Manville Street.

Prologis, who already owns two adjacent industrial properties, plans to commence rehab work on the site’s existing building immediately. The seller, Felix Family Trust, used the property for their bedframe manufacturing operation. Bacci and Cline originally sold the property to Felix Manufacturing in 1996.

“This deal worked out perfectly for both sides,” said Cline. “The Felix family believed it was a good time to sell and the property fits into Prologis’ long-term goal of acquiring well located industrial real estate near ports and freeways.”

The 1954-built industrial building has numerous dock-high positions including a flat bed dock for loading, excellent freeway access and heavy power. Having not been remodeled in years, the property will also greatly benefit from Prologis’ planned modifications.

“There is currently a lack of available industrial properties for sale, resulting in numerous offers and an active market,” added Bacci. “Our team had 175 East Manville under contract within 30 days.”

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.

SHARE
Avatar
The Hoyt Organization
http://hoytorg.com/

Ranked as one of the top 25 public relations firms in Los Angeles by the Los Angeles Business Journal, The Hoyt Organization is a full-service, strategic communications firm that provides complete public relations counseling and crisis communication services. With more than two decades of experience, the firm specializes in developing public relations, social media and digital marketing programs for business-to-business, real estate, professional service firms, financial entities, healthcare organizations, as well as retail, legal, technology and business-to-consumer-based companies.

Contact:

Phone: 310-373-0103

RELATED ARTICLESMORE FROM AUTHOR

Previous articleC.A.R. releases its California Housing Market Forecast for 2013
Next articleLos Angeles Man Sentenced to Over Three Years in Federal Prison in Home Loan Scam That Cost Banks More Than $1 Million