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28

LA Basin Land Site Sells With an Existing Lease

By Tony Seruga

Harrison Nichols Co. sold the 8.9-acre land in Irwindale, Calif. The buyer benefits from an existing lease with UPS.

In a $9.8 million deal, Harrison Nichols Co. sold an 8.9-acre land site in Irwindale, Calif., to industrial developer CentralPoint Properties. DAUM Commercial Real Estate Services arranged the sale on behalf of Harrison Nichols, while JLL represented the buyer.

The property at 5265 4^th St. belonged to Harrison Nichols Co. for more than 40 years, and is currently leased to United Parcel Service (UPS) for vehicle storage. The buyer, CenterPoint Properties, will benefit from the site’s existing lease and its long-term goals include additional industrial development. Until then, the existing lease with UPS will supplement the cost of the site…

LA Basin Land Site Sells With an Existing Lease

Categories : Commercial Real Estate

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