NAI Capital Sells $15.25M Industrial Portfolio in North Los Angeles, CA
Los Angeles, CA – January 30, 2020 – Executive Managing Director Chris Jackson and Executive Vice President Todd Lorber, with NAI Capital’s Investment Services Group completed the sale of a 3-building industrial leased portfolio, totalling 91,248 square feet, located in North Los Angeles, California. Chris and Todd represented the seller, VAD LLC, and buyer, ARKA Van Nuys 1 LLC in the transaction. The portfolio sold for $15,250,000 or a blended $167 per square foot at a 5.0% cap rate.
The portfolio sale included two single tenant industrial buildings located at 7658 & 7735 Haskell Ave in Van Nuys. The third property was a multi-tenant industrial building located at 24922 Anza Drive in the city of Santa Clarita. Below is the size of each building:
7733 Haskell: 19,206 SF
7658 Haskell: 21,970 SF
24922 Anza Drive: 50,072 SF
At the time of the sale, all three buildings were 100% leased.
Todd said, “Below market rents, in a tight market, made this is an excellent long term investment that satisfied our clients’ acquisition requirements for their 1031 exchange.”
“We continue to see strong demand from investors for industrial assets throughout the country. Our client considered this the right time to sell, as appetite for functional industrial product remains strong,” Chris added.
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 375 Offices and 6,000 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 375 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 6,000 local market professionals, managing in excess of 1.15 Billion 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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