Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VAN NUYS, CA-The owner of a bulk vending business bought a 73,437-sf industrial building at 7725 Airport Business Parkway in the Van Nuys Airport Business Center from Van Nuys Industrial Center LLC for $6.477 million.

Ron Feder of Lee & Associates tells GlobeSt.com that the buyer acquired the eight-month-old building, built on a former aerospace site, in order to more than double the size of his existing bulk vending operations in Burbank.

Feder and Bennett Robinson of CB Richard Ellis represented the buyer, while the seller was represented by Brad Kohler of Trammell Crow.

The new business park that the building is part of is one of a number of new office and industrial parks that have been developed in recent years at former aerospace sites in the San Fernando Valley.

Feder cited strong demand for industrial buildings for sale, especially small and medium-sized properties. The overall vacancy rate for the San Fernando Valley is about 6%, he says, but that rate tends to be lower in small and medium-sized buildings.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.