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Saturday, Jul 2, 2022

Northridge Lumber Warehouse Sells for $4.5 Million

A Northridge industrial building has sold for $4.5 million. The deal on the 1963-built, 25,440-square-foot home of Far West Lumber, located at 18450 Parthenia Place, was finalized Jan. 23. Far West will continue to lease the property. According to a statement by Van Nuys-based brokerage Delphi Business Properties, the company’s Senior Vice President David Hoffberg represented buyer Topanga Northridge LLC. Encino-based Beitler Commercial Realty Services’ industrial team Ron Kassan, Dustin Tondreau, Garrett Houghton and Arthur Minassian acted as the listing agents on behalf of seller Johnson Family Limited Partnership. “The property, and timing of its availability, are ideally suited for the buyer’s plans to relocate an existing lumber distribution facility in 2020,” Hoffberg told the Business Journal. “We enjoyed working with everyone involved in this smooth transaction,” Beitler’s Hougton said. “This is the first time the well-known Northridge building has been sold. It was a sale-leaseback deal, and helped us kick-start the year in a phenomenal way.”

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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