78.1 F
San Fernando
Tuesday, Oct 3, 2023

Burbank Industrial Flex Space Sells for $4 Million

An industrial flex facility in Burbank has sold in an off-market sale for $3.9 million.

The approximately 10,000-square-foot warehouse located at 3401 W. Pacific Ave. has been renovated, offering all ground floor space, minimal office layout, one ground-level loading door and height clearance.

Executive Managing Director Yair Haimoff and Vice President Barry Jakov of Spectrum Commercial Real Estate transacted both sides of the deal.

The building stands in a prime Hollywood Burbank Airport location with easy access to public transportation and local amenities. The property is surrounded by corporate neighbors such as Walt Disney Studios, Warner Bros. Studios, Netflix Animation and Providence Holy Cross and it has access to freeways.

“This was a challenging deal,” Jakov said in a statement. “In June of 2014, the facility suffered significant fire damage and had to undergo environmental remediation. Our team kept in touch with the ownership, and when remediation was close to completion, we successfully sold the asset in an off-market acquisition opportunity to an investor.”

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

Featured Articles

Related Articles