The 153,984-sf industrial building is at 9401 DeSoto Ave., according to David Young of NAI Capital Commercial, who says the transaction was one of the largest sales of industrial buildings in the past year in the San Fernando Valley.

Young, who represented Vast Resources, says the company acquired the building from Specialty Merchandise Corp. for $10.2 million. Vast Resources will be relocating and consolidating offices and operations of five buildings in the Northeast portion of the San Fernando Valley into the new facility, which is in an industrial area of Chatsworth in the West San Fernando Valley. The building will serve as a corporate headquarters as well as for the manufacturing and distribution of plastics. Vast Resources plans to occupy the new facility in March.

Besides being one of the largest deals in the past year, Young says, the transaction was unusual in that very few industrial buildings of this size are available for sale in the area. Seller Specialty Merchandise Corp. was represented by Bennett Robinson of CB Richard Ellis.

Chatsworth has remained a stable industrial market throughout the economic downturn, according to recent surveys, which list the availability rate at approximately 6.7% for the more that 21.5 million sf of industrial buildings in the Chatsworth market. That compares with an availability rate of approximately 6.8% overall in Los Angeles County.