87.5 F
San Fernando
Thursday, May 26, 2022

Chatsworth Warehouse Trades for $34.5 Million

A single-tenant industrial distribution facility covering 146,516 square feet has sold in Chatsworth for $34.5 million, or $235 per square foot.The warehouse at 9140 Lurline Ave. is situated on nearly 8 acres of MR2 zoned land and was 100 percent occupied at the close of the deal. It features 13 covered dock-high doors, eight load levelers, two ground-level loading doors, 25-foot minimum clear height and 13,481 square feet of office space.Executive Vice Presidents David Young and Chad Gahr with NAI Capital Commercial’s Industrial Services Group represented both the private buyer and undisclosed seller in the transaction.“Opportunities for investors to purchase single-tenant industrial buildings in this market are extremely competitive due to strong demand and limited availability,” Young said in a statement.Gahr added: “The sale price is indicative of the pricing levels we are seeing in the market, as the supply of investment grade industrial buildings for sale is low.”Chatsworth has seen some high-profile sales in recent months. A 221,842-square-foot Amazon-occupied warehouse owned by Xebec at 20730 Prairie St. sold in May for $74 million, or roughly $234 per foot. Prior to the pandemic, tenant Allsale Electric purchased the 55,000-square-foot building it was leasing at 9240 Jordan Ave. for $9.7 million, or $175 per square foot.

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.

Featured Articles

Related Articles