SCIF’s $35-Million Acquisition Complete

The Southern California Industrial Fund has completed a $35-million acquisition of an industrial portfolio in Commerce and Vernon.

The purchase comprises eight buildings totaling 1,017,000 square feet.

SCIF is a joint venture between the Magellan Group in Century City and the Bascom Group in Irvine.

David Hasbrouck of Cushman & Wakefield represented SCIF and seller Harvey Investments/Warschaw Properties in the transaction.

Within the last 18 months, SCIF has bought value-added industrial real estate costing more than $90 million.