The portfolio was 65% leased when it was brought to market but rose to 75% before it was put under contract. Two of the long-term tenants are United Laboraroties and Qualcomm, which each lease one of the buildings in the portfolio.First Industrial's senior investment officer Wallace Murfit did not return a phone call seeking comment. In a prepared statement, he says FirstCal completed its underwriting process in 30 days and closed the transaction eight days later. The purchase was brokered by CB Richard Ellis, The brokers involved were Bob Gilley, Erik Doyle, Steve Hermann, Mark Schmidt, Reed Payne, and Christian Marent. Neither Gilley nor Hermann could be reached for comment.
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