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Friday, Aug 12, 2022
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Sylmar Warehouse Sells for $24 Million

A 100,000 square foot single-tenant industrial building in Sylmar has sold in an off-market transaction for $24 million, or $240 per square foot.

The property — which sits on approximately 4.5 acres of M1 zoned land — is fully leased to Vision Scenery Corp. Inc., a leading set design company. 

The building features 24-foot warehouse clearance, 1,600 amps of power and has excellent freeway access. 

Delphi Business Properties Inc. Senior Associate Adam Stout represented the buyer, industrial investment firm Staley Point Capital, which made the purchase in a joint venture with Bain Capital Real Estate.  

“In this supply constrained real estate market, knowledge is power,” Stout said in a statement. “This off-market sale transaction is a perfect example of Delphi’s exclusive market knowledge, and I’m thrilled to provide value to my client Staley Point Capital by selling them one of the few 100,000-plus square foot buildings that traded this year.” 

Founded in 2019, Staley Point Capital has been active in the San Fernando Valley. The firm is planning to construct a project called Fallbrook Point, a three-building industrial complex totaling 98,614 square feet at 22815-22825 W. Roscoe Blvd. in Northridge. 

According to Colliers International data, industrial vacancy in the East San Fernando Valley in the third quarter was 0.8 percent. 

 

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.
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