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1/14/19
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A 16.2k sf, industrial warehouse facility in Van Nuys sold for $3.625 mil ($224/sf). The property is located at 7727 and 7729 Burnet Ave, east of Sepulveda Blvd and north of Saticoy St.
The single-story building is situated on an approximately 0.69-acre land parcel and includes an office space build-out, 32 parking stalls, gated lot, a 16-foot clear-height ceiling and two ground-level roll-up doors.
Andrew Berk and Mark Evanoff with Avison Young represented the seller, Los Angeles-based Burnet investments LLC, which had been occupying the space for its janitorial-supply business, California Contractors Supplies Inc, since the late 1970s. Berk also represented the buyer, Los Angeles-based, JP Burnet.
“The seller, through its subsidiary, was an owner-occupier at the facility for more than 40 years and recently ceased operations,” noted Berk. “The new owner plans to use a portion of the property for distribution use and will lease the remaining space.”
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