CHATSWORTH, CA-Home Decor Holding Co. has sold its 97,810-sf industrial facility to Atlas Investments for nearly $10 million and has leased the space back for 10 years. The Encino office of Colliers International brokered the deal for the two-building facility.
John DeGrinis of Colliers International, who represented Home Decor along with Patrick DuRoss, comments that the sale-leaseback underscores the rising real estate values and the seller's decision that the capital derived form the building sale would be better utilized for company operations. Built in 1978, the single tenant industrial facility is now occupied by the seller on a 10-year lease.
Located at 21325 Superior St., the facility consists of an 85,310-sf building and a 12,500-sf building. It serves as one of Home Decor Holding Co.'s five manufacturing facilities, with the other facilities located in Mississippi, Canada, Great Britain and France.
The Chatsworth facility has served as a door and window manufacturing and distribution center since it was built. It was originally the home of Monarch Mirror and Door, and latter a company called Stanley before becoming Home Decor.
Buyer Atlas Investments was represented by Brenton Weirick of Colliers International's Encino office, along with Brett Hardy and Daniel Feldman of Colliers International's Los Angeles office. Atlas is a Los Angeles-based real estate investment company.
With operations located in four continents, Home Decor Holding Co. is headquartered in Charlotte, NC. The company supplies its products throughout North America and Europe.
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