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LOS ANGELES-A 34,000-sf, high-bay industrial building in the San Fernando Valley has been scooped up by a studio lighting firm with the region’s sales remaining steady despite the slowing economy. TMB has paid $2.3 million for the facility, which is located at 10643 Glenoaks Blvd.

Bill Birtell of Beitler Commercial acted on behalf of TMB. Brent Weirick of Colliers Seeley’s Encino office represented the seller, Long Beach-based DKT Partners.

In a sign that the San Fernando Valley industrial market is surviving the cooling economy, the TMB purchase is the third such transaction reported this week. Earlier in the week, Globest.com reported that two other Glenoaks Blvd. facilities were in unrelated deals totaling $4.4 million. Lighting firm Leonetti Co. snatched up one of the buildings, a 28,000-sf property on 10601 Glenaoks Blvd. for $2.3 million. The other facility, a 25,000-sf structure at 10639 Glenoaks Blvd, was grabbed for $2.1 million by auto racing team GER Enterprises.

“This market will continue to be popular with industrial users because of its proximity to a strong labor pool, major freeway corridors and its relatively affordable land costs,” Weirick says.

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