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2/03/20
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A three-building, 91.2k sf leased industrial portfolio in northern Los Angeles County traded for $15.25 mil, or $167/sf. The deal came in a 5.0% cap rate.
The portfolio sale included two single-tenant industrial buildings totalling 22k sf and 19.2k sf, located at 7658 and 7735 Haskell Ave (respectively) in the San Fernando Valley community of Van Nuys. The third property is a 50k sf, multi-tenant industrial building located at 24922 Anza Dr in the city of Santa Clarita. At the time of the sale, all three buildings were 100% leased.
Chris Jackson and Todd Lorber with NAI Capital’s Investment Services Group represented the buyer, ARKA Van Nuys 1 LLC, and the seller, VAD LLC, in the transaction. The portfolio sold for $15,250,000 or a blended $167 per square foot at a 5.0% cap rate.
Todd noted, “Below market rents, in a tight market, made this is an excellent long term investment that satisfied our clients’ acquisition requirements for their 1031 exchange.”
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