Industrial property trades hands in Pomona

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

Rendering of 2001 W. Mission Boulevard (Crow Holdings)
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.

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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.