Property Address: 5300 Sheila St., Commerce CA 90040
Square Footage: 695,120
Deal Value: $121 million
CBRE’s Darla Longo and Barbara Emmons-Perrier, co-vice chairwomen, head up CBRE’s West Coast National Partners team. Perrier, Longo and Finkel-Perlmutter represented the seller, Fortress, and the buyer, Rexford Industrial, in the $121 million transaction. Located at 5300 Sheila Street, the distribution building totals 695,120 square feet. The property sits just south of Downtown Los Angeles, giving it excellent access to the LA Ports and 5 and 710 freeways. This was a strategic acquisition for Rexford, given the property’s central location in Commerce. Fortress had bought a large national portfolio of Supervalu facilities and they were able to sell this infill, SoCal location to Rexford at closing. The tenant, Supervalu, is one of the largest grocery wholesalers and retailers in the United States, with annual sales of approximately $16 billion. Given the constraints on developable land sites and rising construction costs, the Los Angeles industrial market is expected to continue to see strong demand for this type of industrial and cold-storage product.
Property Address: 4150 Patterson Ave., Perris CA 92571
Square Footage: 1.04 million
CBRE’s Darla Longo and Joey Sugar represented the buyer, Ferguson Enterprises Inc., in the acquisition of the 1.04-million square foot distribution building. Ferguson is the largest U.S. distributor of plumbing supplies, PVG, waterworks and fire and fabrication products. This move to Ontario will allow the company to expand its operations and enhance its distribution capabilities. The property, Optimus Logistics Center, is a distribution center in the Inland Empire.
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