Northridge, CA. – Colliers International, the third largest global real estate services organization, has completed the sale of a 54,171-square-foot multi-tenant industrial property located at 19015-19031 Parthenia Street in Northridge. The transaction is valued at $2.55 million.
John DeGrinis (top right photo), SIOR, senior executive vice president, Patrick DuRoss (lower left photo), associate vice president, and Jeff Abraham, senior associate all based in Colliers International’s Encino office represented both the seller, OneWest Bank, and the buyer, Devarim Investment, LLC.
“This property is somewhat unique given its diverse unit sizes that attracted a flurry of interest,” DuRoss explained. “The major upside with this property was the small unit sizes that make up most of the project. These smaller units continue to carry reasonably strong demand, and the below market rents that were in place offered the buyer upside in the rents.”
The property consists of four buildings with 19 units ranging from 900 to 30,082 square feet and is 100 percent occupied.
Contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
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