Lowe Enterprises Investors continues its acquisition program in the San Gabriel Valley industrial market with the purchase of a 131,219-square-foot building in the City of Industry, Calif.
The value of the transaction was not disclosed.
Tulip Corp., in the business of plastic injection molding and equipment manufacturing, sold the property at 14955 Salt Lake Ave., which was constructed in 1979 as a build-to-suit for Tulip.
At the time of sale, the building served as manufacturing space for PHI, a division of Tulip, which will lease back approximately 40 percent of the property.
Lowe plans exterior upgrades of the property that include exterior painting, landscape, signage and tenant entry enhancement.
Los Angeles-based Lowe Enterprises is a national real estate investment, development and management company.
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