ISO Beauty Inc. in Van Nuys has bought a roughly 30,000-square-foot industrial building in Chatsworth for $5.49 million, nearly the asking price, according to Daum Commercial Real Estate Services, a commercial real estate brokerage with offices in Woodland Hills.
The distributor of hair styling products bought the Class B building, built in 2001, at 9111 Winnetka Ave. in the Winnetka Business Center from Yoel and Avi Wazana, according to Daniel Frees, associate vice president at Daum, and who negotiated the deal on behalf of ISO with Chris Sullivan, also of Daum.
ISO bought the building after recently selling a 17,700-square-foot industrial building at 6703-6705 Valjean Ave. in Van Nuys for $4.18 million. It bought the building in March for $3.1 million, according to CoStar Realty Information Inc. The growing company will be moving to the new location from its current site in Van Nuys, Frees said.
Frees said this was the only building for sale locally that met ISO’s criteria, a situation representing the minimal available inventory and a seller’s market. The sellers of the Chatsworth building asked close to $5.52 million, and pretty much got it, Frees said.
“It was only on the market for a little bit and we were very, very close to the asking price,” he added.
The building last sold in May of 2002 for about $2.8 million, according to CoStar
Bennett Robinson of L.A.-based CBRE Group Inc. represented the seller.