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NORTH HOLLYWOOD, CA-A private company has leased a 52,120-sf industrial building here and plans to open a grocery-related business at the site in February.

The tenant is Valley Cash and Carry, a newly formed company that plans to sell different types of grocery products to moderately sized retail outlets. Its new building stands at 12323 Sherman Way, and the five-year lease is valued at $1.7 million.

Though the building is primarily designed for warehousing or other industrial uses, it also has about 3,600 sf of office space. About 20 people are expected to work at the building after the company moves in next year, says Ross Thomas, a principal of Van Nuys-based brokerage Delphi Business Properties.

Thomas represented the building’s owner, privately held 102% Group Investment of Los Angeles, in its negotiations with Valley Cash and Carry. The tenant was represented by Realtyland broker Ed Kim.

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