NAI Capital Completes Sale of Ambulance Dispatch Center in Opportunity Zone
Los Angeles, CA – March 5, 2019 – Senior Vice President Matt Ehrlich with NAI Capital’s Encino office negotiated the sale of a 6,085 square foot industrial building in Reseda, California. Matt represented the seller, ZES, LLC. The buyer was a private individual. The property sold for $2,200,000, or $362 per square foot.
The building is located at 7046 Darby Avenue in the city of Reseda, which is within the Treasury Department’s newly-designated tax incentive Opportunity Zone. The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a mechanism to provide tax incentives for investment in designated census tracts. Investments made by individuals through special funds in these zones would be allowed to defer or eliminate federal taxes on capital gains.
The building was built in 1960 and features upgraded finishes such as a modern conference room, skylights and updated reception area and kitchen. Other amenities include a gated concrete yard, full HVAC, 1,200 amps of power, parking for 35 cars and upstairs living quarters. At the time of the sale the Adult Medical Transportation operated its ambulance transportation service from this facility.
Matt said, “Opportunities to purchase industrial properties in the San Fernando Valley are limited due to extremely tight market conditions. The tax incentives of Opportunity Zones make this property even more attractive to the buyer.”
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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