This Week’s LA Deal Sheet
Metra Electronics sold a 38K SF distribution facility in Long Beach to an undisclosed high net worth investor for more than $11M.
The short-term sale-leaseback deal means Metra will stay in the warehouse until the lease expires next year. DAUM Commercial Real Estate Services Capital Markets Group Director Michael Collins and associate Dustin Hullinger represented the buyer. The deal was “the latest in a series of real estate deals the company has directed for this high-net-worth private investor,” DAUM said in a release.
CBRE’s Brian Held and Rob Flores represented Metra. The property at 3221 East 59th St. in Long Beach sits on about 2 acres and was built in 1970.