1031 Buyer Grabs North L.A. Industrial for $15M

NAI Capital’s Chris Jackson and Todd Lorber represented all parties in the $15.25 million purchase of three North L.A. County industrial properties, totaling 91,248 square feet. The buyer, ARKA Van Nuys 1 LLC, met a 1031 requirement with a five percent cap rate. The seller was VAD LLC.

The properties include two buildings in Van Nuys, located at 7658 Haskell Ave. (21,970 square feet) and 7735 Haskell Ave. (19,206 square feet) and a third building located at 24922 Anza Dr. (50,072 square feet) in Santa Clarita. At the time of the sale, all three building were 100% leased.

Lorber spoke for the buyer: “Below market rents, in a tight market, made this is an excellent long-term investment that satisfied our clients’ acquisition requirements for their 1031 exchange.”

Jackson, for the sellers, added: “Our client considered this the right time to sell, as appetite for functional industrial product remains strong.”

For comments, questions or concerns, please contact Chris Egger