(Pacoima, CA) – February 29, 2024 – Lee & Associates – LA North/Ventura, Inc. has announced the sale of 10643 Glenoaks Boulevard, Pacoima, CA, a 38,063 SF industrial property located in the heart of the San Fernando Valley.
The property is a highly sought-after jewel industrial asset, equipped with 13,086 SF of office space and high-power capabilities. This suited the needs of the buyer, a local government health entity, the Greater Los Angeles Vector Control District (District), who purchased the property at the end of 2023 for nearly $13 million. Lee & Associates LA North/Ventura principal Chris McKenzie represented the District in the transaction. The seller was Glenoaks Partners, LLC.
“Measure ULA’s high entry barrier is stalling sales almost everywhere,” noted McKenzie. “Many organizations are reconsidering their options due to this tax burden. However, we successfully exempted this from the transaction given the buyer’s status as a government entity, saving the seller $778,000. This enabled the District to meet their 2024 goals and provide vital services to the community.”
McKenzie scoured the area for an optimal site with strong power availability and loading capabilities, ensuring that the District could efficiently serve the residents of Pacoima and Greater Los Angeles. The perfect fit came in the form of 10643 Glenoaks Boulevard, boasting not only these essential features but also offering convenient accessibility. Situated within a brief 15-minute commute from Burbank Airport and conveniently positioned near major freeways, it promises seamless operations and accessibility for all involved.
The District is a California government entity focused on providing ongoing insect control assistance for residents to protect them from vector-borne diseases, which is ever present and continuing to expand in LA. In fact, the West Nile mosquito virus was identified within the community less than a year ago. Following this expansion from their Sylmar location, paired with an easily accessible property, the District can now serve all of Greater Los Angeles more effectively.
The organization provides practical educational programs and services along with informative presentations and events that help residents understand the public health resources that are available and how to prevent vector-borne diseases.
This new location will provide the community of Pacoima, and the rest of Greater Los Angeles, with a much needed and easily usable public health service. It will no doubt become a primary pillar of the region’s notable public health milestones to date.
About Lee & Associates – LA North/Ventura, Inc.
Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with 70+ offices throughout the United States and Canada. Our 1,300 professionals regularly collaborate to make sure they are providing their clients with the most advanced, up-to-date market technology and information.
