Apr
28

COSTAR GROUP – 04/28/10

LIBITZKY PROPERTY COS. PAYS $5.5M FOR GILROY INDUSTRIAL

Angelica Corp. Sells Property, Leases Back By Jessa Spainhower April 28, 2010 Libitzky Property Cos. purchased the 125,000-square-foot manufacturing and warehouse facility at 8190 Murray Ave. in Gilroy, CA, from Angelica Corp. for $5.5 million, or about $55 per square foot. The industrial property delivered in 1967. There are three other structures at the site, totaling 25,048 square feet, which have been condemned and will be demolished. Angelica Corp. will continue to occupy the main facility in a 17-year leaseback. Drew Fischer and Jesse Lucas of Lee & Associates in Oakland represented the buyer, while Marcella Harrison of GVA Kidder Mathews in San Francisco represented the seller. Link to original article