The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
North Hollywood Industrial Property Sold Before the Listing Hits the Market

7/16/19

An industrial property in the eastern San Fernando Valley community of North Hollywood has sold for $6.625 mil, prior to it having been listed. It is located at 7025-7037 Laurel Canyon Blvd, just east of the 170 Fwy and south of Sherman Way.

The property, currently leased by USPS, consists of a 36.2k sf building that sits on 100k sf of land, offering a rare and substantial development opportunity in one of the tightest industrial markets in Los Angeles.

The buyer, Jacmar Companies, is a local real estate development company that owns properties throughout greater Los Angeles. The company is expected to redevelop the site once the USPS lease expires in 2025. Even with the longer timeline, however, the property traded at a 3.8% cap rate on current income.

Randy Kobata, Mike Tingus and Clay Stevens with Lee & Associates-LA North/Ventura represented the buyer and the seller, a private family trust.

“With industrial vacancy in North Hollywood now below 1%, we had three prospective buyers jump on this offering in just four days,” said Kobata. “We consummated a deal agreement even before we completed our initial marketing launch.”





Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media