CITY OF INDUSTRY, CA-Dexus Property Group, an Australian REIT that arrived in Southern California the summer of this year with the announced intention of buying $600 million of West Coast industrial space, has acquired a 157,328 square-foot, multi-tenant industrial property here that generated an “overwhelming” response from prospective buyers, according to Voit Real Estate Services brokers who marketed the deal. “We received an overwhelmingly positive response to our strategic marketing campaign, including a wide number of purchase offers from qualified institutional and private investors,” said Alan Pekarcik of Voit’s Irvine office, who represented both Dexus and the seller along with Voit’s Dan Vittone and Nick Frasco.

Pekarcik says that the bidding for the asset demonstrated “the heavy demand for a core multi-tenant industrial product in the L.A. market." The property, called Industry City Center, is a 100% occupied, institutionally managed project at the intersection of 1100 Hatcher Ave. and 17521 and 17531 Railroad St. It features dock-high served warehouse space ranging from 4,600 square feet to 11,400 square feet, located near the 60 Freeway.

Pekarcik called the transaction “one of the smoother our team has facilitated due to Dexus’ ability to close in a timely manner,” and pointed out that the Pekarcik-Vittone team has completed more than 100 sales of business parks over the last 20 years.