Overton Moore Properties Announces the Sale of Two Buildings at Baldwin & Amar Distribution Center

CITY OF INDUSTRY, Calif., Feb. 3, 2012 /PRNewswire/ -- Overton Moore Properties (OMP) announces the sale of two buildings at Baldwin & Amar Distribution Center located in the City of Industry, CA. 760-780 Baldwin Park Boulevard, a 96,888 square foot warehouse/distribution building, sold for $8,235,480 ($85 per square foot) to Asia Direct, which was represented by Brian McLoughlin of Voit Real Estate Services. 13280 Amar Ave, a 92,488 square foot warehouse/manufacturing building, sold for $6,575,000 ($71 per square foot) to American Foam, Fiber & Supplies, which was represented by Jason Chao of CBRE. OMP was represented by Phil Lombardo and Ty Newland of Cushman & Wakefield on both transactions.

"OMP is pleased to have captured the inherent value in the asset by completing an extensive repositioning of the project and perfecting the title, such that the buildings can be sold individually to users. As a result, we were able to deliver highly functional buildings to the market at prices well below replacement values," noted Jason Hines, Vice President of OMP. "In 2012, OMP remains focused on acquiring existing buildings and land for new development," Mr. Hines continued.

Located in the highly desirable West City of Industry, Baldwin & Amar Industrial Center was acquired by OMP in 2010. OMP subsequently completed an extensive renovation of the project, which resulted in modern aesthetics, enhanced loading, large secured truck yards, enhanced offices, and an upgrade of building, lighting, and roof systems. OMP has one remaining available 108,000 square foot building in the project. Located at 730 Baldwin Pak Blvd, the building features 24'+ clear height, an active rail spur, a large privately fenced yard, new T-8 lighting, 5,400 SF of new office, and a new roof. OMP is offering the building for lease or sale with an asking price of $84/sf.

OMP, formed in 1972, is one of the largest developers in Los Angeles County. The privately held real estate company specializes in development, master planning, property management, marketing, construction management and financial reporting. OMP has developed or acquired over 30 million square feet of office, industrial and mixed-use space throughout Southern California.

Overton Moore Properties, 19300 South Hamilton Ave, Suite 200, Gardena, CA 90248 T. 310.323.9100, F. 310.608.7997 www.omprop.com

SOURCE Overton Moore Properties