The NAI Capital Investment Services Group has completed the sale of a nearly 175,000-square-foot distribution and manufacturing facility in Valencia to Chicago-based First Industrial Realty Trust for $20.7 million, or $120 per square foot.
The single-story building, located at 28545 Livingston Ave. within the Valencia Commerce Center, features 22 dock high doors and four ground-level loading doors. The facility was 100 percent vacant at the time of the sale, according to a Tuesday news release announcing the sale.
The NAI group, led by Chris Jackson and Todd Lorber, is now marketing the property for lease for the new owner. The building, given its proximity in the Thirty Mile Zone, “is a candidate to be adapted for filming, soundstage, or prop warehousing,” the release reads.
“This project is receiving a flurry of activity,” Jackson, the group’s executive managing director, said in the release.
Added Lorber, the group’s executive vice president, “The building can be divided down to 53,940 square and accommodate two tenants – which makes it more attractive for the owner to have a multi-tenanted industrial building.”
Jackson and Lorber represented the seller, a private investor, in the transaction.