LOS ANGELES-Spring In LLC has purchased a 150,000-square-foot warehouse and distribution center at 14625 E. Clark Ave. in the City of Industry. The seller was GSG Trust.
According to a prepared statement, the owner/user sale marks the largest industrial sale to take place in the San Gabriel Valley so far in 2010. Rick Sheckter, senior vice president of the industrial group at Grubb & Ellis Inc. and Ryan Campbell, vice president of the industrial group, represented both parties in the transaction.
Sheckter tells GlobeSt.com that the property was sold by three owners who chose to sell the property “to simplify their estate planning due to their maturing ages.” He adds that the buyer has been leasing the property and “had the desire to own.”
Sheckter also explains that the property was a good fit for the buyer, “especially given the property’s ability to be divided.” He could not disclose a purchase price at this time due to a confidentiality agreement.
Built in 1973, the property is located within close proximity to Highway 60. According to Campbell, Troy Lighting, which completely occupies 14625 E. Clark Ave., will vacate the property at the end of 2010. Spring In will take occupancy during the first six months of 2011, after its current lease expires.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
