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10/08/18
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Alexander Henry Fabrics Inc purchased a 15k sf warehouse property in Burbank for $4.3 mil ($287/sf). The building is located at 301 S Flower St, within the East San Fernando Valley submarket.
Built in 1957, the single-story warehouse features a bow truss roof, three dock-high loading positions, a ground-level loading door and approximately 4.5k sf of office space. The property is situated on a 26.8k sf of lot in a prime location. The project was 100% occupied at the time of the sale.
Adam Comora and Paul Kurkjian with NAI Capital represented the property seller, Shaunt Berberian & Maggie Zada.
Adam said, “We are seeing strong demand from investors and users to purchase industrial assets in the San Fernando Valley.” He adds, “The East San Fernando Valley in particular is one of the most sought submarkets after in the region - with sales prices at record levels. Good product is in short supply.”
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