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Investment Group Snags Industrial Park

LOS ANGELES-The 79,875-sf complex has fetched $5.4 million, as the county's industrial market continues to tighten. As investors scramble to scoop up available properties, developers are jumping to bring new industrial projects online

By Erin Cassin | Updated on June 28, 2001

LOS ANGELES-A Walnut industrial park has been sold to an Irvine-based investment group for $5.4 million.

The complex, known as Brea Canyon Business Park, is located at 565 Brea Canyon Blvd. A multi-tenant property, it encompasses 79,875 sf. The three-building complex was 97% leased at the time of sale.

The buyer, California Industrial Properties, was represented by John Hollingsworth and Peter Lee of Grubb & Ellis’ San Gabriel Valley. The seller, Stamford, CT-based GE Capital, was represented by Peter Beauchamp of Voit Commercial Brokerage.

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