CBRE reports that C.E.G. Construction, part of Pico Rivera-based industrial real estate developer Chalmers Equity Group, has paid $10.5 million for a nearly five-acre industrial site in Arcadia.
CBRE’s Anthony DeLorenzo, Mark Shaffer, Gary Stache, and Doug Mack represented C.E.G. Construction. CBRE brokers also represented the seller.
Located at 11621-11633 Clark St., the site includes approximately 31,400 sq. ft. of office and industrial space across four multi-tenant buildings and three acres of paved and secured yard area.
“Demand for industrial properties is at an all-time high with incredible interest from developers, REITs, and 1031-exchange investors,” said DeLorenzo. “The unique property size is a big advantage given the limited supply of industrial-zoned land in the San Gabriel Valley.”
