PRLog - Nov. 21, 2012 - TORRANCE, Calif. -- Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the $16.2 million industrial sale in the City of Industry.
14505 Proctor Avenue
Senior Vice President Adam Dzierzynski of Lee’s Industry office represented the buyer, Sun Hing Foods, an ethnic food wholesaler and distributor that develops and distributes ethnic-food products for grocers, supermarkets, bakeries and food services in North America. Senior Vice President Jeff Huberman, also of Lee’s Industry office, represented the seller, PSIP Prism Industry LLC, a joint venture between Prism Realty Corporation, an investment and development firm based in Costa Mesa, Calif. and Penwood Real Estate Investment Management, LLC, a financial investment advisory firm based out of Hartford, Conn.
“This property greatly appealed to the buyer because of the central City of Industry location, heavy power and ample yard area with fantastic cross dock loading,” said Dzierzynski.
Built in 1969, the 216,048-square-
Eric Eklund, senior vice president of Prism Realty noted, “This property was consistent with our strategy of adding value to well located in-fill Southern California industrial properties through repositioning, rehabilitation, development, leasing and sales.”