Lee & Associates – LA North/Ventura, Inc. recently facilitated the sale of a 38,063-square-foot industrial property located in Pacoima for nearly $13 million. The property was acquired by the Greater Los Angeles Vector Control District.
Chris McKenzie, principal at Lee & Associates LA North/Ventura, represented the District in this transaction while Glenoaks Partners LLC served as the seller.
According to McKenzie, sales have been hindered by Measure ULA’s high entry barrier in many areas. However, due to their status as a government entity and successful exemption from this tax burden during this transaction saved the seller $778k. This allowed for both parties to meet their goals and provide essential services to the community.
The Greater Los Angeles Vector Control District is dedicated to protecting residents from vector-borne diseases through ongoing insect control assistance. With its recent acquisition of 10643 Glenoaks Blvd., they are expanding their operations beyond their Sylmar location.
This article was originally published on Connect CRE.
