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California  + Los Angeles  + Industrial  | 

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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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.