ProLogis Buys $21M South Bay Project

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COMPTON, CA-ProLogis has acquired two industrial buildings totaling 181,650 sf at the intersection of the Artesia Freeway and Alameda Street for $21.2 million from locally based IDS Real Estate Group. The two buildings include one of 138,650 sf for which IDS acquired the land three years ago and developed on a speculative basis.

Dan Sibson, senior vice president of Downtown Los Angeles-based IDS, explains that after IDS developed the 138,650-sf building, the L.A.-based development firm leased it to two tenants, PODS Enterprises and AIF Co. PODS supplies portable on-demand storage systems, and AIF is one of many logistics services firms that operate in the South Bay.