The San Francisco-based global real estate investment trust, Prologis, purchased the land from PBF Energy, which was represented by Michael Ma in the West LA office of Lee & Associates.

Prologis spends $49M to acquire 31 acres of industrial land

Prologis, a global real estate investment trust based in San Francisco, has paid $49.3 million to acquire 31 acres of undeveloped industrial land in Torrance.

PBF Energy, a New Jersey-based petroleum refinery, sold the 1.4 million square-foot property, found on the northeast corner of Del Amo Boulevard and Prairie Avenue. PBF still owns the Torrance Refinery, a 750-acre refinery that’s located adjacent to the property.

Michael Ma of Lee & Associates represented PBF Energy in the sale. Frank Schulz of Klabin Co. represented Prologis.

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