The Burbank building is at 727-733 Victory Blvd. The buyer, who was represented by David Young and Chad Gahr of NAI Capital Commercial, acquired the property from Timcor Financial Corp. The NAI brokers say the buyer will be relocating from North Hollywood and is expected to occupy the building this summer. Bennett Robinson of CB Richard Ellis represented the seller.
In the Pasadena transaction, Vinedo Avenue Partners acquired a 15,040-sf industrial property at 253 Vinedo Ave. from Hovey Investments LLC for $1.35 million and plans to convert it to accommodate R&D and flex office space. Robert Dixon of NAI Capital represented the seller, with NAI's Bill Blakkold representing the buyer.
The renovation is scheduled for completion in the fall of this year, at which time the building will be available for lease. Dixon and Blakkold have the assignment as listing agents for leasing the building, which has parking for 45 cars. The property is within the East Pasadena industrial sector and near the San Gabriel Boulevard off-ramp of the 210 Freeway.
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