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Saturday, Dec 9, 2023

Moving Company Buys Headquarters Parcel

A moving company has purchased a 124,000-square-foot land parcel in San Fernando with plans to build a new headquarters. Russell’s Moving & Storage paid about $3 million for the land at 1201 Arroyo St. and will move its operations from Pacoima when construction of the new facility is complete, according to Brett Warner, a principal with Lee & Associates-LA North/Ventura office. “This purchase gives our client the opportunity to build a specialized facility in a strong location with good access to all of the Los Angeles,” said Warner, who represented Russell’s. “Another plus to the location is that the city of San Fernando has no gross receipts tax.” The company plans to build a 75,000-square-foot tilt-up building that is expected to be completed by the third quarter. Russell’s currently leases space in Pacoima. Greg Geraci, a senior vice president at the Universal City office of CBRE Group Inc., represented the seller, Goldstein San Fernando LLC.

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