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7/31/15
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Neotech Products Inc purchased a 36.8k sf industrial building in Valencia for $4.82 mil ($131/sf). The building is on a 60.5k sf site at 28430 Witherspoon Pkwy, west of I-5 and north of Hwy 126.
The transaction was the up-leg portion of Neotech’s 1031 tax deferred exchange after recently selling their former 22.5k sf industrial building nearby, at 27822 Fremont Ct in Santa Clarita for $2.78 mil in June 2015. Neotech was founded in 1986 and is a leader in the development of neonatal, pediatric and respiratory products worldwide.
Trevor Gale and Jon Reno, SIOR, of Heger Industrial represented the buyer in the deal. John Erickson with Colliers International repped the seller, 28430 Witherspoon Parkway LLC.
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