RANCHO DOMINGEUZ, CA—DCT Industrial Trust has acquired Victoria Industrial, a 101,724-square-foot industrial facility from CT Realty for $12.3 million. CT Realty purchased the property in partnership with American Realty Advisors in 2012. The property is currently 100% leased by LMD Integrated Logistics through November 2020.

Marc Belluomini, EVP of operations and asset management at CT Realty, explains that the South Bay industrial market has experienced a recent resurgence, especially for industrial properties of this size. According to industry sources unrelated to the deal, the joint venture purchased the property for $9.3 million in 2012. The heightened market demand made this a good time for the joint venture to sell the appreciated property.

Located at 3136 Victoria Ave. in Rancho Dominguez, CA, the property has 20 dock high positions with 22-foot and 24-foot minimum clear heights and 120-foot truck courts. It has direct access to the 710 and 91 freeways as well as proximity to the 110 and 405 freeways and the Ports of Long Beach and Los Angeles. CBRE's Darla Longo, Barbara Emmons, Michael Kendall, Rebecca Perlmutter and Tres Reid represented both CT Realty and American Realty Advisors and DCT Industrial in the transaction.

The South Bay market is definitely experiencing strong industrial demand. Recently, denim manufacturer True Religion planted its headquarters offices and warehouse facility in Manhattan Beach, signing a 72,246-square-foot lease. It will take occupancy in 2015.