A 41,365-square-foot industrial building in San Fernando has sold for $4.1 million in a sale-leaseback.
The building, at 1647 Truman St., was constructed in 1970. It is home to J&M Products Inc., which supplies brackets, electrical harness products and other items to the trucking industry.
Under the terms of the deal, J&M will lease back the property from its new owner, JZK Truman LLC of Sylmar. JZK has plans to develop excess land on the property. In addition to the industrial building, the site includes a 30,000-square-foot parking lot across the street.
“The transaction is a win-win for both parties,” said Brett Warner, a principal at Lee & Associates-LANorth/Ventura, who represented both parties in the deal, in a statement.
According to Warner, the property was on the market for 90 days and received multiple offers.