OPI Vacates North Hollywood Facility

The property has 21 buildings and totals 195,000 square feet.

LOS ANGELES—A major industrial facility is coming to the East San Fernando Valley market. OPI is vacating its 21-building, 195,000-square-foot industrial facility in North Hollywood at the end of this year, giving an opportunity to another large single user to occupy space in the very tight North Hollywood market. While some companies have left Los Angeles for most cost effective markets, OPI’s departure is not related to the local market. The company was recently purchased by Coty Inc., which has decided to consolidate the operations.

“I think that the move is directly related to Coty’s purchase of OPI, which was otherwise a locally based company and brand,” Chad Gahr, EVP at NAI Capital, tells GlobeSt.com. “Coty is a major consortium with many cosmetic brands and a pretty big footprint, and they were able to find efficiency by consolidating the manufacturing into their facilities in North Carolina.” Gahr is marketing the facility on behalf of the landlord, along with David Young, EVP at NAI Capital.