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1/16/15
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Adler Realty Investments recently picked up a 28k sf industrial property in the northeastern San Fernando Valley community of Sylmar for $2.3 mil, or $82/sf. Built in 1986, the facility is located at 13294 Ralston Ave, just north of the intersection of Roxford St and San Fernando Rd.
Adler is converting the property, which they acquired vacant, into a baking facility. They’ve already leased the property to Abby’s Millstone Baking Company, a commercial baker whose clients include Trader Joe’s, Albertson’s and Von’s. Abby’s has outgrown their current space and could not meet their production demands.
Adler had been working to locate a new location for Abby’s but could not find an existing facility that met the tenant’s needs. In the end, Adler found this empty facility which could be adapted to meet the tenant’s requirements, and was able to help finance the improvements for the tenant through a rent structure.
The property was sold by Harges Community Property Trust. David Hoffberg and Teresa Ernest with Delphi Business Properties represented Adler in the purchase.
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