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50,000-SF Industrial Asset Sells for $2.5 Mil

LOS ANGELES-The building was acquired by an industrial investment group that resigned the existing tenant for an additional 15 years. The seller was San Francisco-based Catellus Development Corp.

By Erin Cassin | Updated on September 24, 2001

LOS ANGELES-A 49,951-sf building in Vernon changed hands for $2.5 million, as demand continues to outstrip supply countywide. Located at 3060 E. 44th St., the property was 100% leased at the time of sale.

The buyer is SBP Limited Partnership, a Solon, OH-based industrial investment group. The building is occupied by Cleveland, OH-based Tremco Inc., a national roofing materials company. The 25-year tenant has signed a lease with the new owner for an additional 15 years.

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