Private Investor Goes for 400 National in a Big Way

400 National, a 290,220-square-foot single-tenant industrial distribution center at 400 National Way in Simi Valley, CA, recently sold for $128 million. The property is 100 percent leased to an e-commerce firm and serves as a last-mile distribution facility.

The buyer was a private family office investment company and the seller was Greenlaw Partners, a Southern California-based investor and developer. Newmark’s Bret Hardy, Jim Linn, Andrew Briner, Ken White and Kevin Shannon represented the seller.

“Once again, Greenlaw executed on its unique and market-leading vision for the conversion of this former office call center facility,” said Hardy. “400 National represents an extraordinary example of a partnership between developer and user, in creating a highly functional and truly last-mile delivery station in the burgeoning North Los Angeles submarket.”

400 National totals 290,220 square feet and is on a 43.55-acre parcel adjacent to State Route 118. Formerly an office building, the property was extensively renovated in the last year to accommodate the tenant’s warehousing and product delivery needs.