NSB Value Added Fund I, managed by NSB Associates Inc. of Beverly Hills, CA, purchased 500,000 square feet of Southern California industrial properties for $30 million. Of the fund's eight properties, four have been acquired during the past 18-months. Included is the 63,104-square-foot multi-tenant warehouse at 1920 Violet St. in Los Angeles, sold by Heartland Investment Inc. Acacia-Scif I. LLC sold the 129,400-square-foot building at 6541 E. Washington Blvd. in Commerce. San Dimas Partners sold a vacant industrial building at 305 South Acacia Ave. in San Dimas. And CT Corporate System sold the 73,496-square-foot industrial building at 3040 Lomita Blvd. in Torrance. The acquired assets include both vacant and leased properties with in-place lease rents typically 10 to 15 percent less than market rents and rolling within 30 to 40 months of the acquisition. NSB currently handles a $200 million portfolio with nearly 2 million square feet of space. The company has also formed NSB Value Added Fund II, an industrial and retail investment valued at $50 million.