Massive industrial portfolio sells for almost $30 million
Deal includes three business centers
By Inman News, Friday, January 27, 2006.A San Juan Capistrano, Calif.-based commercial real estate investment firm bought a 12-building industrial property portfolio for almost $30 million, the company said today.
Birtcher Anderson Realty LLC has acquired a 12-building, 251,219-square-foot industrial property portfolio for approximately $28.8 million from Newport Beach-based ZMI Real Estate Inc., the company said.
The Southern California portfolio includes Carson Industrial Center in Carson, Civic Commerce Center in Irwindale and Simpson Business Park in Escondido. The properties were nearly 100 percent occupied at closing by small local tenants.
Both the buyer and seller represented themselves in the transaction. Knightsbridge Realty Capital of Newport Beach acted as the mortgage broker.
The two-building Carson Industrial Center in Carson, Calif., was built in 1970, totals 94,230 square feet and is situated on 4.36 acres. The Civic Commerce Center in Irwindale 101,044 square feet and is on 6 acres.
The Simpson Business Park in Escondido totals 55,945 square feet and is situated on 3.2 acres.
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