Warehouse Near LAX Gets Top Dollar

A 4-year-old warehouse facility at Los Angeles International Airport has commanded one of the highest sale prices per square foot in recent years. Michigan-based International Airport Centers last week paid developer Joseph Findley $19 million for the 220,000-square-foot building at 11099 S. La Cienega Blvd. that houses the U.S. Customs Service and Gateway Freight Services. The building commanded such a premium price because warehouse space at the airport is becoming more scarce as cargo volume increases, said Izzy Eichenstein of Oakstone Co., who brokered the deal.