First Industrial builds portfolio

First Industrial Realty Trust Inc. has acquired a portfolio of 18 industrial buildings totaling 2.4 million square feet across four states.

The value of the portfolio was not disclosed.

The portfolio covers five markets and is comprised of nine buildings in Dallas, four in Chicago, three in Minneapolis, and one each in Kansas City and San Antonio.

Principal Real Estate Investors sold the buildings.

First Industrial Realty Trust builds, buys, sells and manages industrial property in major markets nationwide.

***  more...

Industrial buildings sold in downtown L.A.

Charles Dunn Co., a full-service commercial real estate brokerage, has sold two industrial buildings totaling 78,341 square feet in Los Angeles.

The total value of the transactions was $10 million.

Home to a 17,000-square-foot Staples store, the buildings are located at 1701-1717 S. Figueroa St. and 622 W. 17th St.

Figueroa Properties LLC purchased the properties from Jack and Cita Litt. 

***  more...

San Diego business park sale completed

Grubb & Ellis/BRE Commercial brokered the sale of the Miramar Commerce Center, a five building, 112,483-square-foot business park in San Diego.

The value of the transaction was $17 million.

The Miramar Commerce Center, completed in 1987 and 1997, is located at 8902-8940 Activity Road and is situated on two parcels totaling 10.1 acres. The buildings are of concrete tilt-up construction and are all single-story.

At the time of sale, the project was 92.2 percent leased to approximately 28 tenants in space ranging from 907 square feet to 19,940 square feet.  more...