Dedeaux Properties, a Commerce-based real estate firm, has sold seven industrial buildings at 801-821 Echelon Court in the City of Industry to seven separate buyers for approximately $50 million, according to Daum Commercial Real Estate Services.
The seven buildings range in size from 27,000 to 43,000 square feet and comprise the area known as Echelon Business Park.
Dennis Sandoval, executive vice president and branch manager at Daum, Robert Dipre, Daum executive vice president, and associates Bryan Sandoval and Kurt Yacko, directed the deals.
The buyers were six owner-users – a mix of distribution and light manufacturing – and one investor, according to Sandoval, who declined to divulge their identities.
In a statement, Sandoval said the sale of the newly-built properties illustrated the pent-up demand for ownership of industrial property in Los Angeles County.
“The buildings were under contract since last year, before the foundation for the project was even laid,” he said. “We eventually received back-up offers on each of the properties and ultimately sold to seven separate buyers, including a mix of distribution and light manufacturing users.”
Real estate reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or (323) 556-8337.