David Hoffberg of Van Nuys-based Delphi Business Properties reports Largent Group LLC of Los Angeles purchased a 99,000-sf building at 7620 Airport Business Parkway and a 61,141-sf facility at 7700 Airport Business Parkway. He and Jerry Scullin of Delphi represented the Largent Group while Brad Koehler in Trammell Crow Co.'s Glendale, CA office represented the sellers, Trammell Crow Co. and AMB Property LP, a publicly traded REIT.

Hoffberg says the sales mark the total absorption of the 35-acre development, which is one of the newest industrial developments in the San Fernando Valley. The buildings occupy a total of eight acres at the gateway to Airport Business Park at Hayvenhurst and Saticoy avenues.

The J. Paul Getty Trust occupies 50% of the 99,000-sf building on a 10-year lease. According to Hoffberg, leases currently are out for the balance of the building. Hoffberg and Scullin are the listing agents for both properties.

The Largent buildings are two of the largest available in the central part of the San Fernando Valley, an area where most industrial buildings are closer to 15,000 sf to 25,000 sf. They are concrete tilt-up designs, with 24-foot interior clearance, dock-high loading, office space and on-site parking.

Airport Business Park is a $60-million, 677,000-sf project developed by Trammell Crow Co. on behalf of the Crow/AMB ownership on what was a dormant site previously owned and occupied by aerospace firm Marquardt. The 677,000 sf comprises 186,000 sf in two buildings that were rehabilitated by Trammell Crow and five new structures totaling 490,000 sf built by Crow. All have been either leased or sold.

A San Francisco Bay area developer named Nearon has acquired an 18-acre parcel next to the Crow park for future development.