Bruce and Barbara Woollen acquired the 25,644-sf industrial building for $2.692 million from locally based private investors, according to David Young, Bill Napier and Chad Gahr of NAI Capital Commercial. Young and Napier represented the buyers, while Young and Gahr represented the sellers.
The property is at 2212 Kenmere Ave. and is next to an existing facility also used in the film lighting company's business.
The NAI brokers say the buyers will use the newly acquired building for warehousing, distribution and sale of lighting for the motion picture industry.
The transaction is one of a number of sales of small and medium-sized industrial buildings recently in Burbank. Brokers say companies that need industrial space in buildings of this size often choose buying over renting because the cost of owning compares favorably to the cost of renting in light of today's low interest rates and favorable financing terms.
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