COMMERCE, CA-Cushman & Wakefield served as the exclusive advisor to CG-LINA Paperbox, LLC and Western Realco in the sale of Randolph Business Center, a 400,169-square-foot, 100% net-leased warehouse distribution facility. The property was purchased by Bentall Kennedy, a real estate investment advisor.
“This sale allowed the buyer to acquire a rare institutional-quality asset in the prime Central Los Angeles County industrial submarket, which has a vacancy rate of 3.8%,” said Jeff Chiate, executive director at Cushman & Wakefield. “The Southern California industrial market continues to be the most sought after market in the nation by institutional investors.”
Industry sources unrelated to the deal report that the sale price was $55 million.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
