Lee & Associates Transacts $2,550,000 Industrial Sale in Canoga Park, CA

Location, unit mix and stable tenant roster generate several offers

 

CALABASAS, CA – June 14, 2011 – A multi-tenant industrial building in Canoga Park, CA was sold to a private investor for $2,550,000, according to Jack Schlaifer, Senior Vice President of Lee & Associates-LA North/Ventura, Inc., who represented the seller, H&D Osborne Investments, in the transaction.

The property, located at 21026 Osborne St. in Canoga Park, CA, consists of five units totaling 22,100 square feet. It was fully leased at the time of the sale.

“The property is very well-located on the border of Chatsworth with a good mix of unit sizes, making it a very attractive investment opportunity,” said Schlaifer, noting that several offers were received on the property. “It also has a stable roster of tenants, several of whom have been there for 10 years or more. Then, we were able to lease up the one vacant space of 6,000-square-feet during escrow, which really cinched the deal.”

The buyer, West Valley Industrial, LLC, was represented by Scott Caswell with Delphi Business Properties.