Lincoln Property sells Fortune Business Park for $27M

The buyer is the American arm of Deutsche Asset Management

Los Angeles /
Oct.October 17, 2017 03:00 PM

Lincoln Property Company sold an industrial warehouse at 13668 Valley Boulevard in the City of Industry for $27.2 million to Deutsche Asset Management, the U.S. subsidiary of German Deutsche Bank Group, last month, The Real Deal has learned.

LPC has owned the 157,900-square-foot site, known as the Fortune Business Park, since September 2006, when it acquired it for $22.3 million, records show.

Tenants at the Class A business park include NRG Innovations, a manufacturer of racing auto-parts, and the headquarters of Boiling Point, a hot pot restaurant chain.
JLL had the listing.

The massive Deutsche Asset Management owns a total of 1,237 properties in the United States, worth over $26 billion, according to Real Capital Analytics. Approximately 44 of those properties are in Los Angeles.

The seller, Dallas-based LPC, has been steadily increasing its presence in the California region. It owns massive commercial projects in Los Angeles, including the 566,000-square-foot Wateridge complex and the reconstructed Pen Factory in West L.A. It developed and sold the Runway at Playa Vista.


Related Articles

arrow_forward_ios
The future of San Francisco’s Oceanwide Center is up in the air again (Getty, Foster and Partners)

Contractors pull out as Oceanwide Center sale falls through again

Contractors pull out as Oceanwide Center sale falls through again
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
Randall Heer and the property (Credit: Google Maps)

Vista Studios grows its footprint in Playa Vista

Vista Studios grows its footprint in Playa Vista
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
arrow_forward_ios

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

Loading...