JPMorgan fund invests in California facility

Purchases property in South Los Angeles region

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Grubb & Ellis Co. recently announced that a fund advised by JPMorgan Asset Management has purchased a 313,168-square-foot industrial facility in Compton, Calif. The transaction was valued at $26.2 million. The freestanding, single-story concrete tilt-up building, which is located at 2501 Rosecrans Ave., was 100 percent leased at the time of sale to CCL Industries Inc. A private family trust sold the property, which was built in 1987. Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....