SF-based REIT nabs industrial aviation facility for $31.4M

Los Angeles /
Apr.April 24, 2017 09:45 AM

The industrial sector is really taking flight.

Terreno Realty, a San Francisco-based real estate investment trust, acquired a 23-acre Lynwood industrial property for $31.4 million, the firm announced. The seller was aviation supplier Desser Tire & Rubber, according to Real Capital Analytics.

The site, at 11840 and 11852 Alameda Street, comprises two industrial distribution buildings totaling 464,000 square feet, as well as a separate supply facility spanning an additional 13,000 square feet. The property is 100 percent leased to two long-term tenants, pharmaceutical company PL Developments and logistics firm Midas Express.

Spokespersons for Desser, which is headed by Steven Chlavin, and Terreno were not immediately available for comment. Desser has owned the 1989-built property since it was built, according to RCA.

Terreno specializes in industrial real estate in six coastal markets, including L.A., New York, and Miami, with more than 170 holdings. In L.A.County, the firm owns more than a dozen properties, including warehouses in Inglewood, Compton, and Redondo Beach.

Its latest purchase is indicative of its increasing interest in aviation-related properties. In Miami, it owns a 107,000-square-foot warehouse in the Airport West market, and in New York, Terreno paid $53.1 million for four industrial warehouses just north of John F. Kennedy International Airport in 2014.


Related Articles

arrow_forward_ios
Hudson Pacific Properties CEO Victor Coleman with 3400 Hillview and 3176 Porter (Getty, HPP)
Hudson Pacific posts profit after 2 straight quarters of losses
Hudson Pacific posts profit after 2 straight quarters of losses
Mariposa on 3rd
CGI Strategies secures $42M loan on Koreatown apartment complex
CGI Strategies secures $42M loan on Koreatown apartment complex
Gov. Gavin Newsom with Doug Ose and John Cox (Getty, Twitter)
Real estate execs among challengers in Newsom recall
Real estate execs among challengers in Newsom recall
2575 E El Presidio Street and Thor Equities Chairman Joe Sitt
Thor Equities pushes into LA industrial market
Thor Equities pushes into LA industrial market
Rendering of the new Pasadena office and existing building inset. (JLL, 101 South Marengo)
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
Let there be light: Atlas Capital will overhaul windowless Pasadena office block
PPIH President & CEO Naoki Yoshida and TPG Capital Partner Paul Hackwell (Linkedin, Getty)
TPG Capital selling SoCal-based Gelson’s Markets
TPG Capital selling SoCal-based Gelson’s Markets
MDT Properties Marc Tavakoli and 627-631 N. Dillon Street (Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
Shovel-ready site in Silver Lake trades for $3.5M
Shovel-ready site in Silver Lake trades for $3.5M
(iStock)
LA County sued over commercial eviction moratorium
LA County sued over commercial eviction moratorium
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...