Hager Pacific picks up 145K sf industrial complex in South Bay

Adds to investment firm’s sizable portfolio in area

Hager Pacific picks up 145K sf industrial complex in South Bay
13255 S. Broadway and Hager Pacific Properties Managing Partner David Hager (Hager Pacific)

Hager Pacific Properties paid $17.25 million for a South Bay industrial complex, adding to the investment firm’s substantial portfolio of warehouses in the area.

The Newport Beach-based investment firm plans to renovate the two-building, 145,000-square-foot property, according to DAUM Commercial’s Michael Collins, who brokered the sale. Hager Pacific declined to comment.

The complex consists of one 108,000-square-foot building at 13255 S Broadway and a 37,000-square-foot building at 360 W. 132nd Street. Both are fully leased to individual tenants — a fulfillment warehouse and a label manufacturer.

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James Herbst of Business Industrial Group previously owned the property, records show.

Hager Pacific will work to remediate environmental issues at what Collins called a value-add property.

The firm owns a number of industrial properties in South Bay, including a 1.2-million-square-foot complex at 19500 Mariner Ave in Torrance.

Last month, a 135,000-square-foot industrial complex in Torrance changed hands for $34.5 million  — bought by investment firms Staley Point Capital and Bain Capital.