Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PACOIMA, CA-Timely Industries has paid $7 million for an 108,000-sf industrial building on five acres of land at 12550 Montague St. that will expand the company’s operations within Pacoima, according to Ross Thomas of Delphi Business Properties Inc. in Van Nuys, who represented the buyer. Timely is headed by Bob Day, president and owner, and is a manufacturer of pre-finished steel door frames. The company is moving to the new building from its 74,000-sf headquarters nearby at 10241 Norris Ave., where it has been based since 1983. Timely, which employs 175 workers, acquired the new building from the Appel Family Trust of Los Angeles, which was represented by Greg Barsamian in the Glendale office of CB Richard Ellis.

IN Santa Fe Springs, Newport Beach-based commercial real estate investment firm WLA Investments has sold its Imperial Commerce Center for $4.2 million to IH-Industrial LLC, a Woodland Hills-based development company. Imperial Commerce Center is a 51,256-sf multitenant, single-story industrial at 13805 E. Imperial Highway that was approximately 90% leased at close of escrow. WLA acquired the property as a value-added play in 2002, says Dan Vittone of Voit Commercial Brokerage’s Irvine office who, along with Alan Pekarcik and Paul Caputo of Voit’s Anaheim Metro office, represented the buyer and seller. WLA realized its goals on the acquisition earlier than expected due to the high demand for industrial parks and attractive financing available, Vittone says. The buyer will still be able to significantly improve its returns by bringing the existing tenant leases, most of which are month-to-month, to market levels, Vittone notes.

In a Santa Clarita transaction, Neotech Products, a manufacturer of neo-natal, pediatric and respiratory products, has paid more than $2 million for a 22,470-sf industrial building in afive-fold expansion and relocation from Chatsworth, according to Joel Hugtak of Delphi. Neotech’s new headquarters occupies just over an acre of land at 27822 Fremont Court. Hutak represented Johnson Engineering, the seller, with the buyer represented by Beitler Commercial. Neotech will occupy approximately 14,470 sf of the building, with the balance of 8,000 sf occupied by TechnicalTroubleshooting. The new Neotech headquarters is a concrete tilt-up structure featuring 3,000 sf of office space, 4,000 sf of mezzanine storage space, two ground level doors, 16 foot minimum interior clearance and on-site parking for 53 cars.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2020 ALM Media Properties, LLC. All Rights Reserved.