Adler Realty Investments Acquires a 63,756 Square Foot Industrial Complex in Vernon, CA
Los Angeles (September 29, 2015) – Adler Realty Investments, Inc. (Adler) purchased three buildings food distribution facility in Vernon, Ca for $9,000,000. The property which is currently 100% occupied by Peacock Cheese mostly consist of refrigeration and freezer space for the tenants operations. A fuel service station also operates at the location, servicing the trucking fleets in the area.
The property is located on the corner of Santa Fe Avenue and east 55th Street in a densely industrial neighborhood south of downtown Los Angeles. Adler plans to renovate the building in the short term and upgrade the existing structure and systems for the tenant. The total land for the project totals nearly four acres providing the potential for a future redevelopment of the site into a larger and more modern food distribution center.
“We are excited about the acquisitions since industrial buildings in Vernon rarely are available to purchase.” said Michael Adler, president of Adler. “We are actively looking for other value-add and opportunistic properties to acquire for our investors.”
Will Smith of Colliers International represented both Seller and Buyer in this transaction.