A Morgan Stanley fund has paid $51 million – or more than $178 a square foot – to purchase a more than 286,000-square-foot industrial property in the City of Industry from a Charles Dunn Equities limited-liability company, according to CoStar Group.
The property, at 2380-2398 Peck Rd., includes three buildings, including a warehouse building constructed in 2010, and 20 surface parking spots. The property offers easy access to both the 605 and 60 freeways.
The listing broker was Colliers International, CoStar Group said.
Los Angeles County’s industrial vacancy rate in the fourth quarter of 2017 was 1.3 percent – tight but higher than in previous quarters.
Real estate reporter Ciaran McEvoy can be reached at email@example.com or (323) 556-8337.