Voit Sells 157,300-SF Industrial Property in Southern California
- Oct 20, 2010
October 20, 2010
By Allison Landa, News Editor
Voit Real Estate Services has sold the Industry City Center, a multi-tenant industrial property in the City of Industry, California, to Australian real estate investment trust DEXUS Property Group. DEXUS owns 25 million square feet of industrial space throughout the United States.
The 157,328-square-foot property was sold for $14.4 million. DEXUS was represented by Alan Pekarcik, Dan Vittone and Nick Frasco of Voit’s Irvine office, as was the seller. According to Pekarcik, DEXUS’ ability to close in a timely manner facilitated a smooth transaction. He added that Voit’s background in the Southern California market as well as the specific Inland Empire submarket as well as its expertise in raising asset profiles while identifying top investors helped with the transaction.
The Industry City Center is located at the intersection of 1100 Hatcher Avenue and 17521 and 17531 Railroad Street. It is fully occupied and located near the 60 freeway.
DEXUS has a total of $13 billion in assets under management in Australia and the United States. It recently announced a U.S. expansion with a new office in Newport Beach, California.