Owned and developed by Bridge Industrial, the project is a 270,719-square-foot, two-building speculative industrial project designed to accommodate tenants ranging from 25,000 to 150,000 square feet.
Renewing the lease would have resulted in rent increasing by roughly three times the firm’s prior rate.
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The two leases total more than 15,000 square feet.
DWS Group initially brought the property to market in July 2025, seeking approximately $125 million. The complex last sold in 2015 for $118.55 million.
Previously, the space served as the headquarters for Parbel, a fragrance and cosmetics subsidiary of L’Oréal. The current lease runs through August 2027.
The property was sold by Andy Ansin, President and CEO of Sunbeam Television, after more than 70 years of family ownership, marking its first transfer.
CBRE’s Ben Silver and Evan Fript represented the seller, Excelsior Capital, in the transaction.
The floating-rate bridge loan will be used to refinance the property’s existing construction financing and fund remaining completion costs for the project, which topped out in October 2025 and is expected to deliver in mid-2026.
Colliers’ Kevin Gonzalez and Ana Paula represented the landlord in the transaction. Nickel Goeseke of Cervera Real Estate represented the tenant.