Newport Beach-based real estate investment firm Bixby Land Co. has sold for $17.5 million – or more than $163 per square foot – a 107,000-square-foot industrial property at 16200 Trojan Way in La Mirada, according to CBRE Group Inc.
Rick McGeagh and Josh Bonwell of CBRE represented Bixby Land. James Min of Colliers International represented the buyer, a food manufacturer, whom he declined to identify.
The property, which was built in 1984, also includes a two-story, 15,000-square-foot office that shall serve as the buyer’s new headquarters, CBRE said in a statement. The industrial space also has access to the 5 and 91 freeways.
“The company wanted to relocate from the South Bay market and was looking to find a large, free-standing facility with a great corporate image,” McGeagh said in a statement.
Real estate reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or (323) 556-8337.