NAI Capital Completes $4.3M Sale of Warehouse Facility in Burbank, CA
Los Angeles, CA, October 2, 2018– Senior Vice President Adam Comora and Associate Paul Kurkjian with NAI Capital’s Encino office completed the sale of a 15,000 square foot warehouse in Burbank, Calif. Adam and Paul represented the seller, Shaunt Berberian & Maggie Zada. The buyer was Alexander Henry Fabrics, Inc. The building sold for $4,305,000 million or $287 per square foot.
The building is located at 301 S Flower Street within the East San Fernando Valley submarket. Built in 1957, the single-story warehouse features a bow truss roof, 3 dock high loading positions, a ground level loading door and approximately 4,500 square feet of office space. The property is situated on a 26,761 square foot of lot in a prime location. The project was 100% occupied at the time of the sale.
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.”
“This property presented a unique opportunity for the buyer to acquire a property in one of the most desirable locations in Burbank,” noted Paul.
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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