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Thursday, May 19, 2022

Van Nuys Industrial Property Trades for $6.3 Million

A 18,710-square-foot flex warehouse at 7116 Valjean Ave. in Van Nuys has sold for $6.3 million.Located at the corner of Valjean Avenue and Sherman Way, the building contains 6,000 square feet of warehouse space on a 30,000-square-foot parcel. The building also boasts a two-story office configuration that covers 12,710 square feet.Spectrum Commercial Real Estate agents Yair Haimoff and Barry Jakov represented the undisclosed buyer and seller.Said Jakov in a statement: “Our team received multiple offers near asking price. The overall lack of inventory in Van Nuys and very favorable financing options made this site an attractive owner-user acquisition opportunity.”The Van Nuys submarket’s industrial sector has seen a lot of action in recent quarters. Deals include the sale of a six-building multitenant industrial park at 14825 Oxnard St. to Arka Properties Group for $19.3 million in March; the $2.2 million trade of a 5,330-square-foot warehouse at 14200 Aetna St. that same month; and a 28,000-square-foot warehouse at 16333 Raymer St. leased to an undisclosed Los Angeles baby products company in June.

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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