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10/05/17
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A 28.2k sf industrial facility in the northeastern San Fernando community of Sun Valley was acquired by an auto parts supplier for $5 mil ($177/sf). The property is located at 11847 and 11851 Sheldon St, a block east of San Fernando Rd between the I-5 and I-210 freeways.
Hunter Warner and Brett Warner with Lee & Associates-LA North/Ventura represented the buyer in the transaction. William ‘Billy’ Walk of CBRE represented the seller, Greenview Investments.
“Our client, Sabzeh, was seeking a warehouse hub for its multiple retail locations and needed the 22-foot clear height this facility afforded to maximize its storage space,” said Hunter Warner. “This building met that criteria, and just as important, the per-square-foot price was attractive relative to other industrial properties in the area.”
With demand far outpacing supply in the Metro Los Angeles area, and especially in the East San Fernando Valley, industrial sale prices have risen rapidly. As of the second quarter of 2017 the median price of industrial buildings had increased more than 10%, compared to 2016, to $159 per square foot, more than 14% higher than the last market peak prior to the downturn.
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