Blackstone Group Acquires Industrial Property In Pico Rivera For $62M

The industrial property located at 8700 Mercury Lane in Pico Rivera has been sold in a closed transaction. The property spans 461,000 square feet and was sold for a total price of $62,000,000, resulting in a price per square foot of $134.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $62,000,000
• Square Footage: 461,000
• Price per Square Foot: $134
• Address: 8700 Mercury Lane, Pico Rivera
• Market: Pico Rivera

The buyer of the property was the Blackstone Group, represented by Jon Gray, Stephen Schwarzman, Kathleen McСarthy, and Ken Caplan. The seller of the property was Iron Mountain.