Rancho Dominguez, CA
Laurel Park Commerce is a first class business park located in the heart of the South Bay submarket of Los Angeles. It caters to a diverse base of tenants ranging from biotech, manufacturing, and industrial services.
PRG acquired the distressed property in 2011 via a short-sale transaction with the seller and lender at an approximate 50% discount to the outstanding loan balance. The execution of our property improvement and lease-up plan was completed ahead of schedule.
PRG sold the business park in 2019 at a price that reflected the highest price per square foot at the time for a comparable business park in the South Bay submarket of Los Angeles.