Lee & Associates Investment Services Group Negotiates Sale of Wilmington Multi-Tenant Industrial Property
WILMINGTON, CA— January 23, 2018— Lee & Associates Investment Services Group is proud to announce the sale of a multi-tenant industrial property in Wilmington, CA. The four-building 32,392 square foot property was part of a 205,000+ square foot 7 property multi-tenant industrial portfolio that extends from Palmdale down to Wilmington and out to the Inland Empire.
The seller is a private investor who has worked with Jamie Harrison of Lee & Associates Investment Service Group since 2003.
The buyer, FRE Wilmington Partners LLC purchased the property, which included a cell tower lease and was 100% occupied at the time of the sale plans to hold the property and gradually increase the lease rates over time.
Jamie Harrison, Senior Vice President, along with Jason Phillips, Senior Vice President, brought in Jeff Bethel and Tai Ngo of the Lee & Associates – Industry office to assist in the listing of the 7-property portfolio. Lee & Associates represented both the buyer and seller in the transaction.
“This was a unique opportunity for the buyer to add a true multi-tenant industrial property with a 100% occupancy located near the Port of Los Angeles to their portfolio.” according to Harrison.
About Lee & Associates
Lee & Associates Investment Services Group, Inc. is the investment advisory arm of Lee & Associates. Founded in 2008, the Investment Services Group is a real estate firm that leverages the Lee & Associates national platform for the benefit of its clients. Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Maryland, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates – Investment Services Group, visit lee-isg.com, lee-associates.com or follow us on Facebook, LinkedIn and Twitter.