Food distributor buys industrial development site in Industry

Sun Hing Foods will build its new regional office there

Looking towards the development site from Chestnut Street
Looking towards the development site from Chestnut Street

A 5.4-acre industrial development site in the City of Industry traded hands this month for $20.5 million.

San Francisco food wholesaler and distributor Sun Hing Foods purchased the site. Sun Hing plans to develop a new warehouse and office property there and will move its operations there from its existing regional office on Proctor Avenue in the City of Industry, according to a representative for the company.

The site is accessible via Curl Court, a cul-de-sac off Railroad Street near the intersection of S. Asuza Avenue.

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The seller was Prudential Financial’s asset management arm PGIM, Inc. Sun Hung secured an $8.5 million mortgage and an additional $7.9 million in mezzanine debt from Downtown-based City National Bank for the investment. The sale comes to about $87 per square foot.

It’s unclear whether the new development will be larger than Sun Hing’s existing 394,000-square-foot warehouse on Proctor Avenue, which it bought in 2012 for $16.2 million and hasn’t yet sold.

The City of Industry is a winding 12-mile long municipality that snakes along Route 60. It is home to just 440 residents, but has numerous industrial properties.

In February, the Charles Dunn Company offloaded a 300,000-square-foot complex in the city for $51 million to Morgan Stanley Private Wealth Management.