North Hollywood, CA – January 19, 2022 – Executive Managing Director Yair Haimoff of Spectrum Commercial Real Estate, Inc., is pleased to announce the recent sale of an Industrial building located in the City of North Hollywood, California.
Spectrum CRE™ represented the Seller in the transaction.
This freestanding 7,899 square foot industrial building is located at 7306 Varna Avenue, in the City of North Hollywood, situated on a M2 zoned parcel. This completely renovated building can be divisible into multiple units – an excellent owner-User/ Investment opportunity. It features ample power, ample parking, multiple loading doors and a fenced and secured yard.
“The unprecedented demand for Industrial buildings coupled with the limited supply in the San Fernando Valley made this property attractive to multiple buyers looking for a M2 zoned building” Haimoff said of the deal. “This building in particular was very appealing to buyers looking to occupy a portion of the building and lease out the remainder of the units.”
The industrial market attracted the most investments in 2021, significantly outpacing office and retail heading into 2022. This year will see investors move in the direction of promising rent growth, like warehouses and biotech properties as well as multi-family/apartments.
This industrial building sold for $3,100,000.00.
Call brokers for more information.
About Spectrum Commercial Real Estate, Inc.
Spectrum CRE™ was founded in 2018, headquartered in Valencia, with offices in Woodland Hills, Encino and Century City, California. We are a full service commercial real estate firm offering clients personalized service, local knowledge, and a pioneering approach to brokerage. The firm’s exceptional brokerage services include tenant and landlord rep, leasing, sales (owner-user and investments), 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, build-to-suit developments, debt/equity, and property management. For more information, visit www.Spectrumcre.com