Sandstone Properties Acquires Industrial Asset On Pico Blvd For $42M

The industrial warehouse located at 1330 W Pico Boulevard in Los Angeles, CA, was sold for $42,000,000.00. The property spans 152,000 square feet and was acquired by Sandstone Properties from the seller, Wilshire Pacific Props. The warehouse, built in 1967, served as the former site of Jeffries Banknote Co, a renowned printing firm that produced travelers checks and municipal bonds for prominent clients including American Express, Bank of America, China, and Bolivia.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $42,000,000.00
• Address: 1330 W Pico Boulevard, Los Angeles, CA
• Market: Los Angeles
• Buyer: Sandstone Properties
• Buyer's Rep: Mark Tarczynski (Colliers International)
• Seller: Wilshire Pacific Props
• SF: 152,000

The purchase of the industrial warehouse was facilitated by Mark Tarczynski from Colliers International, who represented Sandstone Properties. The seller, Wilshire Pacific Props, is a private investor with various properties in its portfolio, including two retail sites on Hollywood Boulevard and an office property in West Hollywood. Sandstone Properties, a private equity firm, strategically expanded its real estate holdings with the acquisition of this industrial asset in a prime location near Downtown Los Angeles.