|<b>Binswanger Realty Advisory Group Inc. Brokers $17M Sale In Vernon, CA</b>
LOS ANGELES – On behalf of the buyer, Paper Source Converting & Manufacturing, the Binswanger Realty Advisory Group Inc. is pleased to announce the purchase of two concrete tilt-up buildings totaling approximately 180,000 sq. ft. from Santa Fe Properties LLC.
The buildings are located at 4700-4800 Santa Fe Avenue in Vernon, California. Sale price was $17 million.
John Repstad and Mark Repstad of the Binswanger Realty Advisory Group Inc. represented the buyer Jacob Khobian, owner of Paper Source Converting & Manufacturing. One of the largest privately owned tissue converters in the Southwestern United States, Paper Source will make minor improvements to this new facility before starting up manufacturing and management operations. This purchase is an expansion from the company’s current 78,000 sq. ft. facility in Pico Rivera, Calif.
The seller, Santa Fe Properties LLC, is a large, West Coast investment group specializing in industrial properties. The group was represented by Lee & Associates.
Headquartered in Philadelphia, Pa., and Los Angeles, Calif., Binswanger Realty Advisory Group Inc. is an international full-service real estate organization with offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, and Asia.