Newmark Grubb Knight Frank (NGKF) represented Global Agri-Trade Corporation in its 62,482-square-foot acquisition of a recently-completed industrial building in unincorporated Los Angeles County. Located on 2.8 acres at 15500 S. Avalon Blvd, the property was developed by Panattoni Development Company, Inc. Global Agri-Trade Corporation will relocate its warehouse and office space, now located in La Mirada and Long Beach, to the single location providing greater overall efficiencies for the international firm by consolidating its operations and corporate uses.
Global Agri-Trade Corporation was represented in the purchase by NGKF Managing Director Christopher Beck and Senior Managing Director Ryan Harding. The seller, Panattoni Development Company, Inc., represented itself. The purchase price was not disclosed.
Global Agri-Trade Corporation, a joint venture of Bhatt Holdings and Nagel family, with offices in Canada, Singapore, Malaysia, India, and Germany, is the leading importer and distributor of certified sustainable, packaged, non-GMO oils for food manufacturing, palm oil products for animal nutrition and coconut oils.
“The tenant was interested in this building even before it was built. The unique building footprint, strategic location and ability to separate Global Agri-Trade’s two businesses in one warehouse were all significant attractions to the project. The overall efficiency they will achieve in the new building will improve their business operations and help them to service customers better for many years to come,” Beck said.
“It made sense for our client to make this long-term investment in a strategically-located asset, given its outstanding access to the ports and major freeways,” Harding added.
The new building provides approximately 57,000 square feet of warehouse and 5,000 square feet of office space.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.
About Panattoni Development Company Inc.
Panattoni Development Company, Inc. is the largest private industrial developer in the US. Panattoni has developed industrial, office, and retail projects in more than 240 markets and has completed over $12 Billion in projects totaling over 200 Million square feet throughout the United States, Canada and Europe. www.panattoni.com