COMMERCE, CA—REDA Bascom Ventures with Washington Capital Management has purchased the former Hill’s Pet Nutrition manufacturing facility in Commerce, CA. The 232,992-sq.-ft. facility was sold by an unnamed private investor for $7 million. REDA Bascom Ventures is a joint venture between Real EstateAssociates LLC and The Bascom Group LLC.
“The acquisition of the former Hill’s Pet Nutrition facility aligns with our focus of identifying and acquiring quality opportunities for development and redevelopment in strategic markets. Over time, the City of Commerce has proven to be one of the strongestmarkets in the LA basin. We are excited to be working in the City to redevelop this property and are seeking additional opportunities where we can add long lasting value,” said Real Estate Development Associates Principal Jason Krotts, in a statement.
The new owner plans to demolish the three existing buildings, located at 6009-6041 South Malt Ave., and build a new 141,000-sq.-ft. industrial facility. Jack Cline and Jeff Bethel of Lee and Associates will oversee the leasing of the facility.