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21129 Osborne Street

Turnbridge Equities Acquires 205000 SF Eton Industrial Park In Canoga Park For $28M
SOLDIndustrial

Turnbridge Equities Acquires 205000 SF Eton Industrial Park In Canoga Park For $28M

21129 Osborne Street

$28,000,000

$136/SF

Building Size

205,000 SF

Asset Type

Industrial

Closing

Apr 8, 2025

AI

The Eton Industrial Park, located at 21110-21129 Osborne Street in Canoga Park, Los Angeles, has been sold for $28 million. The asset encompasses 205,000 square feet of industrial space. With a current occupancy rate of 70%, the property presents opportunities for leasing improvements and value-added executions, given the submarket average occupancy of 98%.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $28,000,000
  • Square Footage: 205,000
  • Price Per Square Foot: $137
  • Buyer: Andrew Joblon, Ryan Nelson, Jason Davis, Michael Gazzano, Jack Hechinger - Turnbridge Equities
  • Broker: Jeff Abraham - Newmark
  • Market: Canoga Park

Turnbridge Equities has initiated its strategy to acquire and reposition multi-tenant industrial assets across Southern California. In this transaction, Jeff Abraham will manage leasing efforts following the acquisition, leveraging his expertise from Newmark in facilitating the deal.

Players

Jeff Abraham

Newmark

Broker

$127.1M

vol

6 deals

Broker
Ryan Nelson

Ryan Nelson

Turnbridge Equities

Buyer

$57.7M

vol

7 deals

Buyer
Turnbridge Equities
Turnbridge EquitiesBuyer

Canoga Park Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93