
Transformed 44-Year-Old SFV Industrial Facility Trades for Record Price
Boston-based TA Realty sold a recently-renovated, 44-year-old, 146,516-square-foot building in Los Angeles’ west San Fernando Valley to an affiliate of Exeter for more than $28.5 million, according to public records. The transaction establishes a new per-square-foot pricing benchmark, while showcasing the strong appetite buyers have for value-add industrial properties in the greater Los Angeles area.
Located in Chatsworth at 9140 Lurline Ave., the structure was the last available for sale in the entire San Fernando Valley totaling 100,000 square feet or more, officials noted. Brokers say this particular transaction may well radically change pricing structures for industrial properties.
“This transaction will impact the pricing structure on industrial properties both here in the San Fernando Valley, and, likely, throughout Southern California,” said Colliers International’s John DeGrinis, who led the brokerage team representing the seller in negotiations, along with Patrick DuRoss and Jeff Abraham.
NAI Capital’s David Young and Chad Gahr represented the buyer.
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