Lee & Associates Closes $15.6 Million Industrial Sale in Vernon

July 25, 2012 - PRLog -- Lee & Associates, one of the leading broker-owned commercial real estate firms in the nation, has closed a $15.6 million industrial sale in Vernon, Calif. The 401,587-square-foot property is located at 4700-4714 Boyle Ave.

The buyer was 45th Street, LLC and the seller was FFI Properties, Inc. The building was occupied by the Vernon, Calif.-based company Fortune Fashions, Inc. and was once the nation’s leading manufacturers of custom-embellished sportswear for the entertainment industry and retail stores, both were represented by Peter D. Bacci and Jack Cline of the Lee & Associates Commerce/Industry office.

“After Fortune Fashions Inc. closed their business and sold their assets, FFI Properties sold to 45th Street, LLC who took the opportunity to acquire this spacious property,” said Bacci. “Because of its prime location, they currently plan to lease the property out while holding it for their personal investment portfolio.”

Built in 1948, the property was previously owned by Smart & Final before FFI Properties bought the property.

About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.