Grubb & Ellis represented First Industrial Realty Inc., a Chicago-based REIT, in the purchase of a 116,000-square-foot industrial building in the City of Industry.
The value of the sale-leaseback transaction was valued at $5.4 million.
The single-story, concrete tilt-up manufacturing facility, which is located at 333 Turnbull Canyon Road, was sold and leased back by Saint-Gobain Calmar Inc., a specialty packaging firm. The company has been in the building since it was built in 1962.
Kevin Shannon, Scott Schumacher and Michael Moore of Grubb & Ellis’ South Bay office and Jim Center and Chalvis Evans of the firm’s San Gabriel Valley office represented the buyer and the seller in the transaction.
Grubb & Ellis Co. is a provider of integrated real estate services.
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