Sun Valley-based Ratner Property Management has purchased a $6.56 million industrial property in Sylmar with an eye to renovate it and upgrade its functionality and market value, according to the brokerage CBRE Group Inc.
CBRE’s Matthew Dierckman, David Harding, Greg Geraci and Billy Walk represented the buyer as well as the private unidentified seller.
Built in 1979 and located on a 77,150-square-foot lot at 13020 Bradley Ave., the 100 percent-leased warehouse, which features 37,100 square feet of space with concrete tilt-up construction with clear height and flexible unit sizes, includes such tenants as Safety-Kleen Systems Inc., a company specializing in recycling oil and handling industrial waste and cleaning.
“This multi-tenant property sits within a tight industrial market with limited opportunities for investors to find high-quality projects,” Dierckman said in a statement. “The buyer has a significant industrial presence in the San Fernando Valley and recognized this great chance to add this property to their portfolio.”
Added Harding: “This was a great off-market opportunity for the buyer and in turn a fantastic chance for the seller to take advantage of the high values in a strong market.”