Los Angeles, Calif. (November 6, 2017) - Kidder Mathews today announced the sale of Downey Industrial Center, a 29.16-acre industrial site in Downey, California, to Prologis, Inc., a multinational logistics real estate investment trust.
The seller was Downey Industrial Center, LLC. Kidder Mathews commercial real estate brokers, Robert G. Thornburgh, SIOR, CCIM, and Tom Holland, SIOR, CCIM, represented both the seller and Prologis in the transaction.
The site is located at 9300, 9350, 3400 Hall Road and 9333, 9399, 9401 Stewart and Gray Road. It is one of the largest infill industrial sales in the area in recent years.
"The sellers selected Prologis as the buyer due to their extensive experience and sophistication in acquiring industrial real estate similar to the Downey project," said Thornburgh, Kidder Mathews executive vice president and partner in Greater Los Angeles. "It was a pleasure assisting in the close of this complex and highly successful transaction."
Kidder Mathews will continue on as both the leasing team and property manager for the site.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with over 700 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $5.6 billion in transactions, manages over 47 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit www.kiddermathews.com.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2017, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 687 million square feet (64 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,200 customers across two major categories: business-to-business and retail/online fulfillment.