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Tuesday, Feb 7, 2023

City of Los Angeles Buys Valley Flex Property

The city of Los Angeles has acquired a flex complex in Sylmar for $28 million. Leef Partners sold the property, which sits on 5.9 acres at 3200 N. San Fernando Road. The property is within the city of Los Angeles. No brokers were involved in the direct sale, according to a CoStar report. The deal, which closed in December, was for a two-building, 84,645-square-foot complex that was erected in 1972 and renovated in 1984. The property was vacant at the time of sale. The deal was an all-cash transaction that included the seller’s participation in a 1031 tax-deferred exchange.

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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