WASHINGTON, D.C. – May 2, 2013 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed a $5.6 million industrial sale at 5858 Smithway Street.
Jack Cline of Lee’s Los Angeles – Central office and Jeff Bethel of Lee’s City of Industry office represented the buyer, American International Industries, a manufacturer and distributor of beauty and grooming products. The seller, Tansavatdi Family Trust, was represented by Tom O’Loughlin of Lee’s Los Angeles – Central office and Jeff Huberman also of Lee’s City of Industry office.
According to Bethel, the buyer plans to expand its cosmetics manufacturing into the 45,000-square-foot space. The subject property is adjacent to American International Industries’ headquarters on Gaspar Avenue. Built in 2004, the 5858 Smithway Street property is one of a handful of newer properties in the City of Commerce. The property has many modern amenities including 30’ minimum ceiling clearance and an ESFR sprinkler system.
“Vacancy rates continue to drop in the Central market and there are very few buildings available for sale due to the lack of land for new developments,” he noted.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 48 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 750 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.