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2/27/24
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Palatine Capital Partners acquired two large multi-tenant industrial parks totaling 183.6k sf in the eastern San Fernando Valley in a $30.6 mil ($167/sf) transaction.
The purchase includes:
• 820 Thompson Ave in Glendale — a 46.3k sf building on 1.96 acres
• 7764-7766 San Fernando Road in Sun Valley — a 98.3k sf building on 2.84 acres
Both industrial parks are currently 100% occupied, with some rents below market. The buyer intends to add value during future lease-ups as new tenants come in.
Kelly Betpolice with Kidder Mathews represented the buyer in the deal. According to Betpolice, the investment was an opportunity for the buyer to establish a presence in the market with strong fundamentals and macro drivers.
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