Industrial Deals Near $9M

In the largest of the deals, Lee & Associates LA North/Ventura Inc. reports that a private individual bought a two-story, 28,920-sf building at 615-620 Allen Ave. in Glendale for about $2.4 million, with Brett Warner of Lee representing the buyer and Greg Barsamian of CB Richard Ellis representing the private sellers, JDJH LLC and AGG LLC. Warner says that the building requires a lot of improvements, but when completed, it will be a premier building within the area.

In a Chatsworth deal, the House of Closets, represented by Craig Weisman of Told Partners, purchased a 15,910-sf building at 9649 Owensmouth Ave. from the Clifford Living Trust for $1.9 million. House of Closets will be relocating its manufacturing facility so that it is located close proximity to the company's showroom, notes Weisman. House of Closets will occupy the concrete block building that is located in the Chatsworth Industrial area for the manufacture of custom closets. The seller, Clifford Living Trust was represented by Delphi Business Properties.

In Baldwin Park, GVA Daum reports the sale of a 1.7-acre truck terminal facility for $1.6 million, or what it says is a top price of $21.23 per sf. Don Palmer of GVA Daum's City of Industry office represented the sellers, two individual investors. Solomon Transport Services bought the property, which is at 4920 Elton St. and includes 4966 sf of building space. The buyers were represented by Jim Center of Grubb & Ellis.Palmer says the property commanded the high price because of its proximity to the ports.

In Torrance, principals of Opto-Knowledge Systems Inc., a developer of turn-key electro-optical sensor systems, have acquired a new 11,160-sf manufacturingfacility for expansion for $1.5 million, reports The Klabin Co.'s David Grote, who represented the buyers. The seller, LNR Hamilton Industrial, was represented by Colliers Seeley. OKSI's new Torrance facility is a concrete tilt-up structure with 24-foot minimum clearance, grade level loading, and on-site parking.

In Van Nuys, a nearly 12,000-sf Van Nuys facility at 14626 Raymer St. sold for approximately $1.3 million to Cor One Inc., with Steve Scott of Lee & Associates representing the buyer and the seller, the Goldman Family Trust. The buyer has already occupied the property for 10 years and plans on major renovations, and the seller is exchanging into a newer property.