CITY OF INDUSTRY, CA—One of the first land deals since the state shut down 400 redevelopment agencies has finally concluded, some 1.5 years after entering escrow.
A 10.67-acre land site here that was designated for redevelopment has been sold for $10 million by Chalmers Equity Group to Jacmar Foodservice Distribution, which services white-tablecloth restaurants, delicatessens and fast-food establishments.
Jacmar will use the property to house a 232,000-square-foot industrial property, with construction anticipated to cost more than $23 million. The completed project will have a 32-foot minimum ceiling height, 25 dock-high loading doors, and cooler and freezer storage.
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