Panattoni Divests Industrial Asset to Oil Products Firm
Friday, April 29th 2016
LOS ANGELES, CA – Newport Beach, CA-based Panattoni Development Company, Inc. sold a recently-completed industrial building in unincorporated Los Angeles County to Global Agri-Trade Corporation for an undisclosed amount. The 62,482-square-foot asset is located on 2.8 acres at 15500 S. Avalon Blvd.
Global Agri-Trade Corp. will relocate its warehouse and office space from La Mirada and Long Beach to the single location. The new location will provide greater overall efficiencies by consolidating operations and corporate uses. The international firm is a leading importer and distributor of certified sustainable, packaged, non-GMO oils for food manufacturing, palm oil products for animal nutrition, and coconut oils.
Newmark Grubb Knight Frank’s Christopher Beck and Ryan Harding represented Global Agri-Trade Corp. in the purchase. Panattoni represented itself.