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Steve Elson And Brad Pennington Acquire Industrial Asset In Burbank For $29 Million

Property Image
SOLD
$29,000,000

California

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Industrial104,795 SF
Sold 09/04/2025
the dealdetailscomps
Property Image
SOLD

Steve Elson And Brad Pennington Acquire Industrial Asset In Burbank For $29 Million

100 East Graham Place

See Similar Deals
Industrial104,795 SF
Sold 09/04/2025

Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$276
Total Square Footage:104,795 SF
Transaction Type:Sale

The property asset involved in the transaction is an industrial space located at 100 East Graham Place in Burbank. The sale price for this asset was $29,000,000, covering a total square footage of 104,795, resulting in a price per square foot of $276.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $29,000,000
  • Address: 100 East Graham Place
  • Market: Burbank
  • Square Footage: 104,795
  • Price per Square Foot: $276
  • Buyer: Steve Elson & Brad Pennington - Alta West Partners; John Bruno, Adrian Bejarano, Ricardo Goldberg & Milan Bhatt - OlivePoint Capital
  • Seller: Asher Luzzatto - The Luzzatto Company

The key individuals involved in this deal include the buyers, representing two distinct groups: Alta West Partners and OlivePoint Capital. Each of these groups played an integral role in the transaction, which reflects a collaboration between multiple buyers and a singular seller, Asher Luzzatto from The Luzzatto Company.

Players

SELLER

Details

SOLD
IMAGE: Steve Elson, Brad Pennington, John Bruno, Adrian Bejarano, Ricardo Goldberg, Milan Bhatt & Asher Luzzatto DATE: 09/04/2025 ADDRESS: 100 East Graham Place MARKET: Burbank ASSET TYPE: Industrial BUYER: Steve Elson & Brad Pennington - Alta West Partners; John Bruno, Adrian Bejarano, Ricardo Goldberg & Milan Bhatt - OlivePoint Capital SELLER: Asher Luzzatto - The Luzzatto Company SALE PRICE: $29,000,000 SF: 104,795 ~ PPSF: $276

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,546,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54