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4/05/23
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Two cosmetic manufacturing sites in the western San Fernando Valley community of Chatsworth traded in a $20 mil transaction. The two free-standing buildings, located at 9530 De Soto Ave and 9533 Irondale Ave, contain a combined 78k sf of space.
The buyer, ISAM LLC and BRI & ISA LLC, bought these properties to revitalize the company that gave Gilberto Amparo, a chemical engineer from Mexico, his start in the cosmetics manufacturing industry in the U.S. Amparo and the Classic Cosmetics brand will occupy the contiguous, high-profile industrial space spanning both De Soto and Irondale Avenues while also reaping the benefits of Chatsworth’s unique portfolio of adjoining industrial spaces.
The buyer was represented by Scott Caswell and Erica Balin with Lee & Associates – LA North/Ventura, along with Mike Hooker of Delphi Business Properties as a co-representative. The sellers, 9526 MYOB and NPP 9533, were repped by John DeGrinis, Patrick DuRoss and Jeff Abraham of Newmark.
“Gilberto Amparo, worked with Classic Cosmetics over a decade ago, bringing innovation and expertise to the brand. After leaving the company and making a name for himself in the industry through his own brand, Color Design Laboratory, Inc., he discovered that Classic Cosmetics was up for sale,” said Caswell. “To honor the owner, Ida Csiszar, who served as both a mentor and long-time friend, he bought the company and has vowed to continue its legacy.”
The San Fernando Valley continues to drive record rates for industrial assets. According to the Lee & Associates – LA North/Ventura Q4 Market Report, high demand boosted absorption after two quarters of negative net absorption. The market reached 210.2k sf of net absorption in Q4 and 328.6k sf for the year.
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