A 22,440-square-foot industrial building in the city of San Fernando has sold for $5.6 million, or $248 per square foot.The multi-tenant warehouse is located in a business park at 571-595 Fourth St.Built in 1962, the single-story building features six units, each with 3,740 square feet. The building was 50 percent occupied at the close of the sale.NAI Capital Executive Directors David Young and Chad Gahr orchestrated the deal on behalf of both buyer, a family trust, and seller, a limited partnership.“Opportunities for owner-users to purchase multi-tenant industrial buildings in this market are extremely competitive due to strong demand and limited availability of this product type,” Young said in a statement.Recent industrial sales in the area include the 14,818-square-foot warehouse at 426 W. Cypress St. in Glendale, which sold earlier this month for $3.8 million; and the North Hollywood property at 7129 Vineland Ave., which sold last month for $3.4 million.
San Fernando Warehouse Fetches $5.6 Million
