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3/15/17
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Trojan Storage recently purchased a 40k sf industrial building on approximately 1.5 acres of land in Burbank with plans to convert the property into a self-storage facility. The firm paid $6.6 mil for the land, located at 101 E. Linden Ave, east of I-5 near the intersection of Alameda Ave and San Fernando Rd.
The buyer recently initiated construction of the conversion project at the site. Completion is slated for June, 2017.
Peter Steigleder and Kelly Betpolice with Studio City-based Hudson Commercial Partners represented both the buyer and the seller, Portex Partners LLC, in the deal.
Concurrent with the Burbank sale, Steigleder and Betpolice represented the seller of that property to complete an interstate Tax-Free Exchange with a total value exceeding $16 mil. This involved the $7.6 mil acquisition of a 32.8k sf retail center on 3.1 acres at 7460 S. Rainbow Blvd in Las Vegas anchored by Dollar Tree, and the $3.2 mil acquisition of a 20.1k sf industrial/flex building at 3401 E. Harbour Dr. in Phoenix. American Woodmark Corp., a publicly-traded company, occupies this building as their corporate headquarters.
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