The industrial property located at 12224 Montague Street in Pacoima features a total area of 113,500 square feet and was sold for $26 million, equating to $229 per square foot. The facility has a clear height of 24 feet and includes 12 dock-high doors, alongside a gated yard suited for various operational needs in the industrial sector.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $26,000,000
• Address: 12224 Montague Street
• Market: Pacoima
• Square Footage: 113,500
• Price Per Square Foot: $229
• Buyer: Conrad Slater - Slater Harding Partners; Foundation Capital Partners; Sierra Ridge Capital
• Seller: Michael and Debra Lichstein Family Trust
• Broker: Dave Harding, Matt Dierckman, Greg Geraci, Billy Walk & Kevin Carroll - Colliers

A partnership comprising Slater Harding Partners, Foundation Capital Partners, and Sierra Ridge Capital is involved in the acquisition of the property. The deal was brokered by Colliers, representing both the buyer and the seller. The buyer group intends to undertake renovations to modernize the facility, enhancing its appeal to distribution, logistics, and last-mile tenants in the East San Fernando Valley submarket.