Van Nuys, CA – June 28, 2021 – Yair Haimoff, SIOR and Barry Jakov of Spectrum Commercial Real Estate, Inc., are pleased to announce the recent sale of a freestanding 18,710-square-foot, high-image industrial/office building located in prime Van Nuys, California.
Haimoff and Jakov represented both the buyer and the seller.
The asset is located at 7116 Valjean Avenue. Built in 2000, the subject property contains approximately 12,710 sq. ft. of office area and 6,000 sq. ft. of warehouse area situated on an approximately 29,996-square-foot parcel. The LAMR1-zoned building boasts a well-designed, two-story office configuration. Additionally, the property features gated and secured parking while providing excellent street visibility and access to Van Nuys Airport.
“Our team received multiple offers near asking price. The overall lack of inventory in Van Nuys and very favorable financing options made this site an attractive owner-user acquisition opportunity,” said Jakov.
The building is located near the signalized corner of Valjean Avenue and Sherman Way. Located in the Van Nuys submarket, the property is in close proximity to Van Nuys Airport, Van Nuys Flyaway, Van Nuys Golf Course, and Balboa Park. This site is located minutes from restaurants, local amenities, and public transit. This location provides rapid and easy access to the 405, 101, and 118 freeways.
The property sold for $6,285,000.
Please call broker for additional information.
About Spectrum Commercial Real Estate, Inc.
Spectrum Commercial Real Estate Inc., founded in 2018 and headquartered in Valencia and Woodland Hills, California, is a full service commercial real estate firm that offers clients personalized service, local knowledge and a pioneering approach to brokerage services. The firm’s full spectrum of services includes 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 providing clients with exceptional brokerage services. For more information, visit www.Spectrumcre.com