SOLD
Sean Rad Buys Industrial Property From Stuart Eigler In Van Nuys For $6.69M
14701-14721 Oxnard Street
Industrial
49,536 SF
49,536 SF
Sold 56 days ago
Summary
Sale
CALIFORNIA
Industrial
49,536 sqft
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:
- Property Type: Industrial
- Transaction Amount: $6,690,000
- Buyer: Sean Rad
- Seller: Stuart Eigler - Eigler Management
- Brokers: Ari Greene & Adam Abushagur - Marcus & Millichap
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
All
3
Agents
2
Agencies
1
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.View on map
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Address 14701-14721 Oxnard Street
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