Industrial property trades hands in Pomona

The new owner manufactures gift boxes and other packaging options for clients

Sep.September 28, 2017 08:00 AM
Rendering of 2001 W. Mission Boulevard (Crow Holdings)

City of Industry-based manufacturer K-1 Packaging Group, along with local investor Eric Tsai, purchased an industrial building at the Mission Commerce Center at 2001 W. Mission Boulevard in Pomona for $13.4 million, The Real Deal has learned.

The seller — Crow Holdings — developed the 96,800-square-foot building as part of a larger six-building complex, dubbed Mission Commerce Center, located at the corner of Mission Boulevard and Humane Way.

Cushman & Wakefield’s Phil Lombardo and Ty Newland had the listing.

The other buildings at the site range from 35,000 to 150,000 square feet. All of the buildings in the complex have now been sold, Newland confirmed.

The Dallas-based equity firm purchased the entire site for $12.5 million in 2014 and completed the project earlier this year.

K-1 Packaging offers customized packaging for consumer products and has clients including Pureology and Alterna. Its partner, Tsai, owned an industrial property at 105 Mercury Circle in the same neighborhood that sold for $2 million earlier this year.

Related Articles

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project