MONTEBELLO, CA—Brimel LLC has acquired a 79,055-square-foot industrial warehouse from TEAC America, GlobeSt.com reports in this exclusive story. With steep completion for industrial properties close to the city, the property received a lot of interest and three offers from potential buyers, including a neighboring hotel looking to build additional parking spaces.

Located at 7733 Telegraph Rd., the building was built in 1964 and underwent renovations in 1996. The property comes with the tallest sign in Southern California. “If you drive along the 5-freeway, you immediately see that sign. It is a very well-located sign that everyone knows,” Peter Bacci, EVP at Lee & Associates' Commerce office, tells GlobeSt.com. Bacci represented the seller along with Lee & Associates SVP Michael Tsaparian. Gregory Stanton and John Hillman of CBRE and Paul Sablock of JLL represented the buyer.

TEAC America has occupied the property for over 30 years, but was recently bought by Gibson Guitars. Selling the property was part of its consolidation. Brimel, who purchased the building for $7.5 million, plans to use the facility for industrial distribution and as a retail and wholesale operation. The property offers the unique opportunity to operate as both industrial and wholesale retail due to its close proximity to major freeways, especially I-5. The company will also replace the TEAC name with its own name on the massive and iconic sign.