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Cerritos Industrial Site Trades for Premium Price

From the Los Angeles Business Journal

By CAROL LAWRENCE

Tuesday, February 10, 2015

Newport Beach investor Alere Property Group bought the 17.5-acre Cerritos West Industrial Park late last month, banking on its ability to take advantage of a tight industrial market by raising rents.

CBRE Global Investors sold the seven-building complex for $43.9 million, or $111 a square foot. The buildings at the property, bounded by 166th Street, Carmenita Road and Manning Way, range in size from 13,000 square feet to 34,000 square feet.

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