facebook
Traded Co logo
Submit

Sean Rad Buys Industrial Property From Stuart Eigler In Van Nuys For $6.69M

Property Image
SOLD
$6,690,000
Adam Abushagur
Ari Greene

California

See Similar Deals
Industrial49,536 SF
Sold 02/15/2024
the dealplayerscompscontact
Property Image
SOLD

Sean Rad Buys Industrial Property From Stuart Eigler In Van Nuys For $6.69M

14701 Oxnard Street & 14721 Oxnard Street

See Similar Deals
Industrial49,536 SF
Sold 02/15/2024
Adam Abushagur
Ari Greene
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$135
Total Square Footage:49,536 SF
Transaction Type:Sale

The property at 14701-14721 Oxnard Street in Van Nuys, California, is a multi-tenant, two-building 24,768-square-foot warehouse situated on 0.99 acres of land. The sale price for this industrial asset was $6,690,000, reflecting a price per square foot of $270.

Summary of transaction details:

The sale of 14701-14721 ½ Oxnard Street was facilitated by Marcus & Millichap. The buyer, Sean Rad, acquired the property with the assistance of Ari Greene and Adam Abushagur. Despite challenges posed by the Mansion Tax, negotiating split fees between the buyer and seller allowed for a successful transaction close to the original asking price.

Players

Adam Abushagur
Marcus & Millichap
Adam Abushagur
43 deals$82.3M volume(972) 755-5223
BROKER
Ari Greene
Marcus & Millichap
Ari Greene
5 deals$48.9M volume(818) 212-2733
BROKER

Details

SOLD
IMAGE: Ari Greene & Adam Abushagur DATE: 02/15/2024 ADDRESS: 14701-14721 Oxnard Street MARKET: Van Nuys ASSET TYPE: Industrial ~ ACRESL 0.99 BUYER: Sean Rad SELLER: Stuart Eigler - Eigler Management BROKERS: Ari Greene (@AriGreene1) & Adam Abushagur (@AdamAbushagur)- Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $6,690,000 SF: 24,768 ~ PPSF: $270 NOTE FROM BROKERS: Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of 14701 to 14721 ½ Oxnard Street, a multi-tenant, two-building 24,768-square-foot warehouse located in Van Nuys, California according to Jim Markel, regional manager of the firm’s Encino’s office. Adam Abushagur, senior managing director investments, and Ari Greene, associate, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also procured by Abushagur and Greene. “By bringing in multiple offers, TAG Industrial is proud to make another client happy, acquiring 96 percent of the original asking price despite today’s economic environment,” commented Abushagur. “The Mansion Tax has created a new challenge in marketing properties in the L.A. area,” continued Greene, “however, we were able to work around it by negotiating split fees between the buyer and seller.” 14701 to 14721 ½ Oxnard Street is located in Van Nuys, California. The subject property is situated on 0.99 acres of land and was built in 1966.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$356,800.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$23,768.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,714.01
Annual Debt Service$380,568.16