Lee & Associates Home > About > Media >

Lee & Associates Negotiates $6.59 Million Industrial Sale

The 81,250 square-foot warehouse sale is not common in the City of Industry

CITY OF INDUSTRY, Calif.—July 12, 2010— Lee & Associates negotiated the purchase and co-brokered the sale of a $6.59 million, 81,250 square-foot industrial property at 20465 Walnut Drive. Adam Dzierzynski and Dennis Keane of Lee’s City of Industry office represented the buyer and Jack Cline and Peter Bacci of Lee Los Angeles, joined with Kent Stalwick of CB Richard Ellis in representing the seller, Hager Pacific Properties.

According to Dzierzynski, the buyer, whose name could not be divulged, was searching for a similar sized building like the one they currently leased in the City of Industry.

“They were looking to purchase a warehouse for their auto racing parts,” said Dzierzynski. “They wanted a prime location and a price they could afford. The buyer had seen nearly every building on the market in the last two years and found this opportunity to be the best one for their needs.”

            Dzierzynski said a sale like this is rare in the City of Industry.

“Because Majestic Realty owns a great deal of square footage in the City of Industry, buildings in this size and price range aren’t on the market very often,” he said.

Prior to the purchase, Hager Pacific Properties had completed several substantial maintenance projects to the property such as re-roofing and re-paving the parking lot, all of which made the property that more desirable. Similarly, the buyer plans to make substantial improvements to the building in terms of office improvements and showroom build-out and plans to occupy the building by August 2010.

Back to Press Releases