Sentre Buys Industrial Campus in Los Angeles for $12.5M in Sale-Leaseback from Mortech Manufacturing
LOS ANGELES — San Diego-based Sentre has purchased Azusa Center, a two-building industrial property located at 301 and 411 N. Aerojet Drive in Los Angeles’ San Gabriel Valley. Mortech Manufacturing sold the asset for $12.5 million in an off-market, sale-leaseback transaction.
Mortech occupies the 75,081-square-foot facility and, upon closing of the sale, the company executed a new 10-year lease for the entire property.
Scott Peterson and Morgon Fraser of CBRE Capital Markets Debt & Structured Finance Placement team arranged a $7.5 million fixed-rate, five-year loan for the acquisition.