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7/21/23
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A 37k sf industrial building in the western San Fernando Valley community of Chatsworth traded for $10.7 mil ($289/sf). The property, located at 9223 Deering Ave, was previously home to a database management company.
Located in the prestigious Northpark Industrial Center, this area continues to be one of the region’s most popular areas given its proximity in the San Fernando Valley. The property’s location also provides easy access to major freeways, providing easy access to surrounding hubs.
Scott Caswell and Erica Balin with Lee & Associates - LA North/Ventura represented the unnamed buyer and the seller, Northwest Industrial Center LLC, in the transaction.
“Prime industrial property remains hard to find even in this current environment,” said Caswell in making the announcement. “There is no question that industrial, particularly when it is well located, continues to a product type that remains popular, particularly given the lack of inventory in the area.”
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