More Industrial Transactions Show Market's Strength

LOS ANGELES-Two new deals have been completed in the region’s industrial market, where vacancies have dropped to the low single digits and most new space is snatched up the moment it becomes available.

In the first transaction, door-manufacturer LB Corp. paid $1.4 million for a 25,060-sf industrial building in the 200 block of Mason Way in City of Industry. LB Corp. will use the building, which stands next to a 30,000-sf structure it acquired last year, to expand its operations.

Jim Center, SVP with Grubb & Ellis’ City of Industry office, represented the buyer in the transaction. Mitch Wright of Wright & Associates represented the seller, Walnut-based Henn’s Investment Co.