The city of Los Angeles has acquired a flex complex in Sylmar for $28 million.
Leef Partners sold the property, which sits on 5.9 acres at 3200 N. San Fernando Road. No brokers were involved in the direct sale, according to a CoStar report.
The deal, which closed in December, was for a two-building, 84,645-square-foot complex that was erected in 1972 and renovated in 1984. The property was vacant at the time of sale. The deal was an all-cash transaction that included the seller's participation in a 1031 tax-deferred exchange.