No Comments

Rare Small Industrial Building Sales for 1.1 Million in Panorama City, CA

13938 Saticoy St, Panorama City, California

Panorama City, CA – May 26, 2022 – Executive Managing Director Yair Haimoff, SIOR and Vice President Barry Jakov of Spectrum Commercial Real Estate, Inc., are pleased to announce the recent sale of a freestanding Industrial building located in Panorama City, California.

This was an all cash, quick close, with Spectrum CRE™ representing both parties in the transaction.

This 2,075 square foot freestanding industrial building located at 13938 Saticoy Street, Panorama City, California, is situated on a prime 6,000 square foot parcel, zoned M2. The property features a fenced and secured parking lot, two ground loading doors, ample power, 10’ clearance, and minimal office space.

Centrally located, this property is minutes from Van Nuys, Chandler Valley Center Studios, Kaiser Permanente, The Plant Shopping Center, Home Depot, Walmart, and across the street from Quixote studios – perfectly nestled between the 405, 170 and 101 freeways.

This was one of the highest per square foot industrial transaction in recent years. Vice President Barry Jakov said, “This is an undeniable indication that the San Fernando Valley is experiencing an unprecedented shortage of small industrial properties. We assisted our client, who lived out-of-state with navigating the sale of his building.” Offers quickly started pouring in according to Jakov “after only seven days on the market, our team received multiple competitive offers and ultimately settled for a quick, all-cash opportunity.”

This Industrial building sold for $1,096,000.00.

Call brokers for more information.