Lee & Associates closes USD6m deal for Valencia office building
Lee & Associates, a commercial real estate brokerage firm, has negotiated the sale of a two-storey office building located in Valencia, California.
Located at 25050 Avenue Kearny, the 23,817 square-foot building sold for USD6 million. Darren Casamassima, Principal, Lee & associates-LA North/Ventura, represented buyer A Golden Enterprises while Spectrum Commercial Real Estate Inc. represented the seller, Rebel Professional Center for the transaction.
“We locked into this property very early in the search,” says Darren Casamassima. “The buyer was in a 1031 exchange and wanted a high occupancy building with stabilised cash flow.”
The building offers office small suites in a prime location at Interstate 5 & Valencia Blvd with close proximity to amenities and retail. The building is located in Valencia Industrial Center and is near Santa Clarita's main commercial thoroughfare. It is within minutes of Henry Mayo Hospital and Town Center. This complex building offers ample parking and accommodates a wide variety of large and small office uses.
“There is a high demand for smaller space in this market. Santa Clarita Valley is emerging as a premier location for film and television,” adds Casamassima. “An investment in this location is ideal for those poised for growth. With Santa Clarita’s tax credits, entertainment companies, the abundance of sound stages, and studios such as Disney, the area has become the secondary studio market for Hollywood.”