by admin

RANCHO DOMINGUEZ, CALIF. — First Industrial Realty Trust Inc. has acquired two industrial facilities in Rancho Dominguez. In the first transaction, First Industrial purchased a 122,000-square-foot bulk distribution center, which is located at 2960 E. Victoria St., through a sale-leaseback transaction. The property was acquired through First Industrial’s Development and Repositioning joint venture with the California State Teachers’ Retirement System (CalSTRS). In the second transaction, the company acquired a 23,000-square-foot truck terminal, which is located at 19021 S. Reyes Ave. First Industrial plans to redevelop the property by expanding the building and adding more than 20 dock-high doors. Additional details about the transactions were not disclosed. Steve Sprenger of Grubb & Ellis and Mike Gibbs of Burr & Temkin assisted in the acquisition of 2960 East Victoria; Jeff Smart and Blake Tippett of Grubb & Ellis assisted in the acquisition of 19021 South Reyes.

You may also like