Lee & Associates-LA North/Ventura Transacts $6.6 Million Sale for Owner-User Development

Moving and storage company Stratton And Sons will develop a 47,000 SF build-to-suit

CHATSWORTH, CA – Feb. 21, 2018 –Stratton And Sons has acquired an industrial building on a 162,485-square-foot parcel with excess land for the development of a new facility for its moving and storage business needs, according to Hunter Warner, a principal of Lee & Associates-LA North/Ventura, who transacted the $6.6 million sale on behalf of the buyer.

With the acquisition, Stratton And Sons will develop a new 47,000 SF facility with 32-foot clear height on the property, located at 20500 Prairie St. in the Chatsworth submarket of the San Fernando Valley in Los Angeles.

“Stratton And Sons had a unique requirement,” said Hunter Warner, who was joined in the transaction by Lee Principal Brett Warner, “and needed a facility with enough clear height to stack its storage containers a minimum of three high. These types of facilities are rare in the San Fernando Valley, so we shifted our search from existing buildings to developable land.”

Stratton, a family-owned business founded in 1973 to provide residential and business moving services, storage and records management, needed a minimum of 24-foot clear height to allow for stacking its containers three high, but by building a new facility to its specifications, the company will now be able to build a facility with 32-foot clear height and stack its containers four high, maximizing its storage capacity.

Stratton And Sons had outgrown its facility at 11907 Wicks St. in Sun Valley, CA, and the Warner team transacted the sale of that facility late last year. The company has been occupying temporary space since then.

The seller, aerospace manufacturer Tavco, Inc., will lease back the existing 30,000-square-foot facility at the Prairie Street location. Eventually Stratton And Sons plans to occupy all of the 77,000 square feet of building space at the property.

“This was a difficult requirement to fulfill, and ultimately we were able to find an ideal solution because the broker who represented the buyer for the Wicks facility, George Stavaris at Trinity Partners, brought us the Prairie site,” noted Brett Warner.