The property at 7129-7133 Vineland Ave. near the corner of Sherman Way and Vineland Avenue, is located near the Hollywood Burbank Airport. The industrial complex is comprised of a pair of commercial buildings spanning 13,325 square feet, with one building totaling 3,800 square feet and the second building covering 9,525 square feet. This complex accommodates seven separate units.
The buildings, built in 1954 and renovated in 2019, feature functional warehouse space, grade-level doors and parking. The property is situated on a 29,981-square-foot M2-zoned parcel.
Yair Haimoff and Barry Jakov with Spectrum Commercial Real Estate Inc. represented the seller, Daryoush Rad of Van Nuys, who Costar records show purchased the property from Burbank-based Carnahan Arch Limited Partnership in 2017. The buyer, represented by Woodland Hills realtor Tom Carnahan, is an undisclosed owner/user.
Haimoff and Jakov said that they received multiple full-price offers for the property, showing that an interest in multitenant properties in the San Fernando Valley continues strong during the pandemic.
Comparable warehouse deals include a pair of Burbank transactions; one 20,000-square-foot site in March at 2917 N. Ontario St. that sold for $8.5 million; and another 8,000-square-foot location at 3014 Floyd St. that traded in April for $2.8 million.