CALABASAS, CA – June 15, 2011 – (RealEstateRama) — 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.
About Lee & Associates – LA North/Ventura, Inc.
Celebrating more than 30 years of leadership in the commercial real estate industry, Lee & Associates®, is the largest broker-owned commercial real estate provider in the nation with 43 offices in California, Arizona, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. Lee & Associates-LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/investment brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. Founded in Sherman Oaks in 1994, Lee & Associates-LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us at 818.986.9800 or visit us online at www.lee-associates.com.