$19M Seals Industrial Deals

NORWALK, CA-Dynamic Builders of Los Angeles has purchased the 81,232-sf Carmenita Business Center from Newport Beach-based WLA Investments for $7.6 million in one of four recently closed industrial transactions here and in two other L.A. locales totaling $19 million, according to Voit Commercial Brokerage and the Klabin Co.The Carmenita Business Center, which was 95% leased to local area tenants at the time of the sale, is at 14606-14636 Carmenita Ave. and 13417-13471 Pumice St. It is located near the I-5 Freeway and Carmenita Avenue.Alan Pekarcik of the Irvine office of Voit Commercial Brokerage reports that the sale of the Carmenita center completes the disposition of a portfolio targeted for sale by WLA in view of the historically low interest rates fueling the investment market. Pekarcik, Dan Vittone of Voit’s Irvine office, and Paul Caputo of Voit’s Anaheim Metro office represented both the seller and the buyer. The Voit team also represented WLA Investments in the sale of81,118-sf Commerce Center Santa Fe Springs and the 29,808-sf Carmenita Pumice Business Park, the latter of which is located across the street from Carmenita Business Center.In the second transaction, Babcock Inc., an engineering and manufacturing company specializing in high-reliability power supplies, relays, and flat panel displays, signed a six-year, $5.3-million lease renewal on its headquarters at 14930 E. Alondra Blvd. in La Mirada. Louis Tomaselli of Voit’s Anaheim Metro office and partner Mitch Zehner represented the tenant, which originally moved into the 135,269-sf R&D building in 1994, after making extensive tenant improvements to the facility. Rick McGeagh of CB Richard Ellis represented the landlord, Brookhaven LLC.The third and fourth transactions consisted of lease extensions with an aggregate value of $6.8 million for two major facilities, one in Rancho Dominguez and the other in Gardena, for a total of 270,000 sf, the Klabin Co. reports. Guildcraft of California, a furniture manufacturer, signed a five-year, $5.2-million lease renewal for 215,600 sf at 18626 Reyes Ave. in Rancho Dominguez. Bud Meyers of Klabin’s Torrance office represented the tenant, with the landlord, Lend Lease, represented by Jeff Morgan and John Schumacher of CB Richard Ellis. Concurrently, Guildcraft was the landlord in leasing a highly improved, 54,016-sf building that it owns and formerly occupied at 13921 S. Figueroa St. in Gardena. The tenant, Gin’l Fabrics, is a maker of fabrics for the fashion industry. Meyers represented Guildcraft in the 13921 S. Figueroa St. deal, with the tenant represented by Kai Chon of Charles Dunn Co. in the five-year, $1.6-million transaction.