3/7/2008

Lee & Associates brokers $15M sale of California industrial property

by Chad King

825 S. Ajax Ave.

Taylor, Mich.-based Masco Corporation has sold an 871,024 square foot industrial property for more than $15 million to 82A Developments, LLC.

Craig Phillips of Lee & Associates represented both parties in the transaction.

The industrial site is located at 825 S. Ajax Ave., and is the former home to Ajax Hardware. According to Phillips, the prior tenant caused significant contamination to the property prior to vacating it, which caused environmental issues for two years.

The buyer plans to demolish one of the existing structures and redevelop the land into an industrial park.

Address: 825 S. Ajax Ave., Industry, Calif.

Size: 871,024 square feet

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Filed Under: Industrial

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