An 8-building industrial portfolio in Glendale, CA was recently sold for a total price of $25,500,000. The properties, located at 1225 Los Angeles St., 1275 Los Angeles St., 1295 Los Angeles St., 1291 Los Angeles St., 440 Cypress St., 444 Cypress St., 437 Fernando Court, and 449 Fernando Court, cover a total square footage of 131,050 and have an average price per square foot of $194.58. The buyer, CPD Los Angeles LLC, acquired the portfolio from Pacific States Box & Basket Co., Inc. (PSBB Properties). The transaction was facilitated by brokers Hunter Warner, Brett Warner, and Lee & Associates - LA North/Ventura.

Summary of transation details

• Property Type: Industrial
• Transaction Amount: $25,500,000
• Square Footage: 131,050
• Price Per Square Foot: $194.58
• Number of Units: 8
• Price Per Unit: $3,187,500
• Buyer: CPD Los Angeles LLC
• Seller: Pacific States Box & Basket Co., Inc. (PSBB Properties)

The 8-building industrial portfolio in Glendale is fully leased with long-term, stable tenants. Approximately 70,000 square feet of the property is zoned IMU-R, allowing for commercial, industrial, and residential use, and offering potential for redevelopment. The acquisition of this portfolio provides the buyer with a significant investment opportunity in a prime industrial market.