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Monday, May 29, 2023

Sun Valley Wheel Maker Buys Building

Luxury automobile wheel and rim manufacturer Forgiato Inc. has purchased a 52,000-square- foot industrial building in Sun Valley for $4.7 million. The company makes high-end rims, steering wheels and front grills for luxury automobiles. It is based at another leased location in Sun Valley within the Shadow Mountain Industrial Park. The new property is at 11915 Wicks St. near the park. The building, constructed in 1991, includes three-ton overhead cranes, heavy electrical wiring, loading docks and full security fencing. “This transaction is one of the clearest signs yet that the economic recovery is continuing to gain momentum among industrial owner-users in this part of the San Fernando Valley,” said Jeff Abraham, a senior associate at Colliers International’s Encino office. Abraham represented the seller, a private family trust. John DeGrinis, a senior vice president, and Patrick DuRoss, an associate vice president, both also of the Encino office, worked with Abraham. Brett Warner of Lee & Associates represented Forgiato.

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