A 154,000-square-foot industrial building in Chatsworth has been acquired by Rexford Industrial Realty Inc. for $14.1 million, the brokerage that handled the deal announced Tuesday.
The L.A. real estate investment trust bought the 6.7-acre property at 9401 De Soto Ave. from Topco Sales, an adult sex-toy manufacturer and distributor that had occupied the building since 2003 but vacated it this month.
The sale closed March 19 at a price that works out to about $92 a square foot.
The Class B industrial building near Plummer Street was constructed in 1983 and features 28-foot ceilings, eight dock-high loading doors and corporate office space.
Rexford intends on making extensive upgrades to the property before offering it for lease, according to NAI Capital’s Encino office, which handle the sale.
David Young and Chad Gahr, senior vice presidents at NAI Capital, represented both the seller and buyer. The duo will be the listing agents handling the leasing on behalf of Rexford Industrial.