TORRANCE, CA-L&B Realty of Dallas has closed on a $38.1 million deal for nine industrial buildings in Torrance, CA. The multi-building transaction, which represents $119 per square foot, is “the largest portfolio sale this year in the South Bay,” according to CBRE Group Inc., which represented the seller.
Tenants in the portfolio include the Los Angeles Times, Simpson Performance Products, W.W. Grainger, Global Transportation Services and M.K. Diamond. The portfolio is 98% leased.
CBRE Group Inc.’s Darla Longo, Kevin Shannon, Barbara Emmons and Scott Schumacher represented the seller, an undisclosed institutional investor.
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