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September 18, 2018
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LOS ANGELES COUNTY NEWS
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Van Nuys Office Building Sells for $16.7 Mil

1/02/18

In an end-of-year office acquisition in the San Fernando Valley community of Van Nuys, Grand Pacific 7-28 LLC paid $16.7 mil for a five-story, 75k sf ($223/sf) building situated on 1.24 acres at 5900 N. Sepulveda Blvd, near the heavily-trafficked intersection with Burbank Blvd.

Originally constructed in 1981, the Class B building was 86% occupied at the time of sale. Turnover in the short-term is expected to be minimal as most of the 33 tenants have long-term leases in place.

Patrick Barnes, David Maling, Chris Maling, Kevin Fenenbock and Jacob Mumpe with Colliers International represented the buyer and the seller, an unidentified private investor, in the deal. Grand Pacific 7-28 LLC is a development and investment entity with real estate holdings throughout the San Fernando Valley.







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