A mini-storage operator has purchased 1.27 acres of industrial land in Van Nuys from cosmetics manufacturer Orly International Inc. for an undisclosed amount.
The property is at 7748 and 7754 Haskell Ave. and 7751, 7749, 7743 and 7737 Aqueduct Ave. in Van Nuys.
Lee & Associates-L.A. North/Ventura Principal and Managing Director Scott Caswell and Associate Erica Balin represented seller Orly, while Robert Clifford, a principal of Lee & Associates-West L.A., represented the buyer, 7710 Haskell LLC.
Caswell and Balin originally represented Orly when the nail polish maker acquired the property to expand its manufacturing facility, which sits just south of the property.
The land stands just west of the 405 freeway at the corner of Haskell Avenue and Stagg Street and it extends into the next block at Aqueduct Avenue. However, in between stands an alley and a cul-de-sac, as well as a parcel owned by adjacent neighbor Apprentice & Journeymen Training Trust Fund, that was used to train workers on heavy equipment.
Prior to the sale, Orly and the brokerage team had reconfigured the property into a contiguous rectangle by getting approval from the city of Los Angeles for the removal of the alley and the cul-de-sac, and having A&J Training Trust Fund agree to an exchange with a portion of Orly’s existing property that would move its training area elsewhere.
The Orly listing attracted more than 10 buyers in just 30 days.
“The new buyers plan on building a first-class, self-storage facility befitting a prime infill location such as this,” Clifford said in a statement.