Los Angeles-based Voit Development Co. has acquired five multi-tenant business parks and three single-tenant buildings for $39 million from Los Angeles-based Fujita Corp. The properties are located in Los Angeles, Orange and Riverside counties and represent Voit's third portfolio acquisition from Fujita in the past 18 months.
Voit's three transactions with Fujita totaled $200 million and added more than 1 million sq. ft. of industrial stock to Voit's portfolio. In March 1999, Voit acquired a $38 million portfolio from Fujita. In December, Voit closed a $125 million portfolio acquisition. Voit already has sold some of the properties acquired in the first two transactions.