Half of the two million-sf industrial park is nearly complete. The buyer is an affiliate of State Street Research, which makes most of its real estate-related purchases through its SSR Realty Advisors unit. The purchase was made on behalf of one of SSR's institutional clients.

The seller is Gardena-based Overton Moore Properties. Overton Moore began developing the warehouse and distribution facility, some of which stands on the former site of an oil-storage facility, a few years ago with LA-based Pacific Coast Capital Partners.

The project's 547,000-sf first phase was completed last year and leased to Performance Team Freight Systems, a Southland-based transportation and logistics firm. The second phase is expected to be finished within a few months, with later phases bringing the project's total sf to nearly two million sf.