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Friday, Jun 9, 2023

Sun Valley Industrial Units Sell

Two industrial condominiums have sold in the Sun Valley for $2.4 million.

The sale was for two units at Wheatland Commerce Center, at 8000-8010 Wheatland Ave., which has a total of 24 condominiums. Both properties were purchased by the same buyer but sold by different parties. 

Spectrum Commercial Real Estate Inc.’s Yair Haimoff and Barry Jakov facilitated the sales.

“The buyer was motivated to purchase both condos to accommodate his business expansion,” Jakov said in a statement. “Our team identified the highly sought-after assets for our client in an off-market approach to facilitate rapid, all-cash transactions in a tight industrial market.”

Industrial real estate is in high demand. In the last year, the East San Fernando Valley saw $490 million worth of properties trade hands, according to data from CoStar Group Inc.

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.

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