Manhattan West Real Estate Group has bought a 59,750-square-foot industrial park in Fountain Valley for $16.5 million.
The Century City-based investor purchased the fully leased campus at 18071 Mt. Washington Street and 11190-11240 Talbert Avenue, the Orange County Register reported. The seller was DDK Investments, based in Fountain Valley.
The price came out to $276 per square foot.
The industrial complex has six tenants, including OC Art & Home, Harwood Galleria, The Drawer Shop and Radco.
Brokers Mike Barreiro and Devin Ray of Daum Commercial Real Estate Services.represented the seller. Charles Johnson and Joseph Harmon of Daum City of Industry represented the buyer.
Manhattan West, led by Lorenzo Esparza, was launched in 2016 by financial professionals who left JPMorgan Chase in New York, according to its website.
Last April, Manhattan West filed plans to build a 55-unit apartment complex at North Alvarado and West Kent streets in Echo Park.
In May, it teamed up with Newport Beach-based Ranch Harbor to buy a 91,000-square-foot warehouse on 5 acres in San Dimas for an undisclosed price.
— Dana Bartholomew
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