A 13.4-acre property with five buildings and two land parcels located near Van Nuys Airport has sold for $85 million.
Boston-based Longpoint Realty Partners bought the industrial park from a private ownership group. The assets, originally built in the 1960s and 1970s, total 95,600 square feet.
The purchase includes a 33,000-square-foot warehouse at 16251 Raymer St.; a 15,900-square foot industrial facility at 16161 Raymer St.; a 14,700-square-foot industrial property at 16300-16310 Raymer St.; a 20,000-square-foot industrial asset at 16201 Raymer St.; and a 12,000-square foot restaurant building at 16320 Raymer St.
In addition to the buildings, Longpoint picked up a 2.5-acre land parcel at 16141 Raymer St.; and a 1.4-acre land parcel at 8085 Woodley Ave.
Jeff Chiate, Rick Ellison, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented the seller.
JLL Capital Markets arranged $52 million in acquisition financing on behalf of Longpoint.