NORTH HOLLYWOOD, CA – The industrial brokerage team of David Young, SIOR and Chad Gahr, SIOR, both Senior Vice Presidents with NAI Capital’s Encino office, represented the buyer, Selective Real Estate Investments, in the purchase of an “offmarket” warehouse / distribution complex located at 11605 & 11611 Hart Street, North Hollywood, CA. The value of the sales transaction was undisclosed.
Occupied since 1965 by the seller, Bobrick Washroom Equipment, the 82,660 SF three building industrial complex is situated on 3.29 acres of land. The buildings are of concrete-tilt-up construction, with dock high loading, monitored fire sprinklers, and has been seismically upgraded and retrofitted to 1995 standards.
In January 2013, Bobrick Washroom Equipment formally announced its plans to build a new 100,000 square foot headquarter, manufacturing, and distribution facility in North Hollywood, just three blocks away from its current location on Hart Street.
“Our relationship with Bobrick, combined with the near completion of their new facility, allowed us to construct a sale that was favorable to both Bobrick and Selective Real Estate Investments,” noted David Young with NAI Capital.
“We will be bringing 82,660 square feet of dock high loaded distribution space for lease, to a submarket with a 1% vacancy rate. North Hollywood is in great need of additional distribution space and presently there is not a single building available for lease in the submarket that can offer this much quality space to a single tenant. We will be marketing the property to full building users, and the building will also be offered as divisible increments of approximately 50,000 square feet and 30,000 square feet,” noted Chad Gahr with NAI Capital.
Bobrick is the world’s leading manufacturer of restroom accessories and plastic laminate toilet partitions for commercial building owners and markets its products under the Bobrick, Gamco and Koala Kare brands.
About NAI Capital – NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California member of NAI Global, a premier real estate service network in 55 countries with 375 local offices and 6,700 local market leaders spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com NAI Capital Brokerage BRE #00806840.