Updated Mar 24, 2026
Andy Hendricks And Andrew Aiken Of Baranof Holdings Acquire Industrial Site In Hollywood For $28M
956 Seward Street
$28,000,000
Building Size
—
Asset Type
Industrial
Closing
Mar 24, 2026
About this deal
AI
An industrial site spanning 1.29 acres was sold for a transaction amount of $28,000,000 at 956 Seward Street located in the Hollywood market. The site is set to host a seven-story Class A self-storage and temperature-controlled film/media storage facility with a total area of 168,000 square feet. The purchase price translates to $167 per square foot.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $28,000,000
- Address: 956 Seward Street
- Market: Hollywood
- Acres: 1.29
- Building Size in Square Feet: 168,000
- Price per Square Foot: $167
- Buyer: Andy Hendricks & Andrew Aiken - Baranof Holdings
- Broker: Martin McDermott - Method Commercial
Baranof Holdings, represented by Andy Hendricks and Andrew Aiken, acquired the property through their broker Martin McDermott. The acquisition aims to address Los Angeles' undersupplied self-storage market while maintaining Hollywood’s media storage infrastructure. This positions Baranof to meet growing demand amid limited local land and increased housing density.
On the Map
$28,000,000
Industrial
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Players
Los Angeles 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