CenterPoint Properties, an Oak Brook, Ill.-based real estate investment firm, has purchased a 126,000-square-foot industrial property at 13217 S. Figueroa St. in the Harbor Gateway neighborhood for $21 million, or about $167 per square foot.
The single-tenant building features 33 dock-high positions and large private fenced yard area, according CBRE Group Inc., which represented the seller, Goldrich & Kest Inc., a Culver City-based real estate firm.
Renovations are under consideration, including the construction of a two-story, 12,000-square-foot office, CBRE said.
Robert Flores and John Privett, both of CBRE, represented the buyer and seller in the deal.
“This building is going to be attractive to a broad mix of tenants because it’s strategically located with convenient access to the Ports of LA and Long Beach, LAX Airport, Downtown LA and the Westside,” Privett said in a statement. “Additionally, with almost two million people living within a seven-mile radius, it makes this an attractive location for e-commerce fulfillment and last-mile deliveries.”
Real estate reporter Ciaran McEvoy can be reached at email@example.com or (323) 556-8337.
You May Also Like
- CBRE Global Investors Moving HQ in Downtown
- CenterPoint Acquires 6.8-Acre Carson Industrial Site
- Preferred Bank Expands Figueroa Headquarters
- Compton Retail Property Acquired for $85.5 Million
- South Pasadena Office Building Sells for $30.7 Million
- Three Mixed-Use Buildings in Highland Park Sell for $23.3 Million
- Taft Building in Hollywood Sold for $70 Million
- Hilton’s DoubleTree Suites in Santa Monica Sells for $154M