Los Angeles, Calif. (February 28, 2024) – Kidder Mathews Senior Vice President Kelly Betpolice represented real estate investment firm Palatine Capital Partners in acquiring two large multi-tenant industrial parks in the San Fernando Valley for $30,610,000:
· 820 Thompson Avenue in Glendale — 46,335 square foot building on 1.96 acres
· 7764-7766 San Fernando Road in Sun Valley — 98,295 square foot building on 2.84 acres
Both industrial parks are currently 100% occupied, with some rents below market. The buyer intends to add value during future lease-ups as new tenants come in.
“There is a lack of inventory in the Glendale/Burbank market as it pertains to multi-tenant industrial,” said Betpolice. “As a long-term hold, it was an opportunity for the buyer to establish a presence in the market with strong fundamentals and macro drivers.”
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with over 900 real estate professionals and staff in 19 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. The firm performs $10 billion in transactions, manages 51 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually (3-year average).
