Lee & Associates – LA North/Ventura Principals Scott Caswell and Erica Balin have announced the closing of a $10.7 million, 37,000 SF industrial building located at 9223 Deering Avenue in Chatsworth, California. Caswell and Balin represented both the buyer, whose name will remain undisclosed, and the seller, Northwest Industrial Center, LLC, in the transaction.
“Prime industrial property remains hard to find even in this current environment,” said Caswell in making the announcement. “There is no question that industrial, particularly when it is well located, continues to a product type that remains popular, particularly given the lack of inventory in the area.”
The site was previously home to a database management company.
“We are very pleased to be able to bring this opportunity to the buyer’s attention as we truly believed it was an exceptional facility for them,” emphasized Balin. “Given the current interest rate environment and the lack of well-located product, this provided an excellent solution to both the buyer and seller.”
Located in the prestigious Northpark Industrial Center, this area continues to be one of the region’s most popular areas given its proximity in the San Fernando Valley. The property’s location also provides easy access to major freeways, providing easy access to surrounding hubs.
