Bob Hoyer of Van Nuys-based Delphi Business Properties reports that Mimi London, a manufacturer of custom furniture, acquired a 10,332-sf facility at 12843 Muscatine St. in Arleta from the principals of Alliance Direct Marketing for just over $1 million the moment it came on the market. Hoyer says Mimi London will relocate and expand from nearby North Hollywood this month. Hoyer represented the sellers, with David Hoffberg and Mike Hooker of Delphi representing the buyers. The building sold for approximately 50% more per sf than it would have sold for just two years ago.

"If we had a dozen more buildings in the 10,000-sf range, we could sell them immediately because there's a huge demand and accompanying shortage of product in the East San Fernando Valley," Hoyer says.

The new headquarters for Mimi London is a concrete tilt-up structure located on a half-acre of land. The facility features 4,500 sf of office space, 16-foot minimum interior clearance, and ground level parking for 20 cars.In the Oxnard transaction, Prime Packaging, a product packager for a variety of industries, has paid $1.5 million for a 19,380-sf industrial facility in a relocation and expansion from North Hollywood, according to Mitch Conlee of GVA DAUM's Camarillo-based Ventura County office. Prime Packaging is scheduled to move into its new headquarters this month. The facility is on approximately 1.5 acres of land at 1201 Maulhardt Ave., where the company will employ an estimated 30 workers. Conlee represented Prime Packaging, with Stuart Scott, also of GVA DAUM, representing the seller, Trotters Independent Trading LLC. Prime Packaging's new headquarters is a free-standing, concrete tilt-up structure featuring truck-high and ground-level loading, and on-site parking for 39 cars.