LOS ANGELES, CA – May 7, 2013 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has closed the $9.3 million sale of an 88,787-square-foot industrial property at 5700 W. 96th Street.
“Sales of industrial buildings in LAX and the South Bay are picking up as interest rates remain at historic lows and the Small Business Administration (SBA) continues to originate commercial real estate loans for owner/users,” said Jesse A. Laikin, SIOR who, along with Albert Pacleb, both of Lee’s Los Angeles-Long Beach, Inc. office, represented the buyer, 5700-96th Street Group of Companies LLC. The Goodglick Company represented the seller 5700 West 96th Street LLC.
According to Laikin, the property was previously used by Siemens (a Fortune 100 company) as a research and development facility for one of their divisions. The property is part of the city of Los Angeles State Enterprise Zone offering tax deductions and credits to business owners moving into the area.
Built in 1952 and remodeled in 1987, the property is located in close proximity to LAX.
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, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, 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.