School lands SoCal industrial site

Conversion plan in the works

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

In what may be an indicator of additional conversions of older San Fernando Valley buildings to new uses, officials of an undisclosed charter school have paid $6.2 million for an 83,538-square-foot industrial building on three acres of land in Sylmar, Calif., according to Delphi Business Properties. The buyer has plans to establish a school at the site, Delphi said. PCSD Foothill LLC acquired the freestanding building on a key corner location at 12800 Foothill Blvd. from the Brown Family Property LLC. Van Nuys, Calif.-based Delphi and GVA DAUM represented the sellers. Grubb & Ellis represented the buyers. Originally built for manufacturing, warehousing and distribution uses, the building is familiar as the one time home of Lone Star Studios. The 25-year-old, concrete tilt-up structure currently features 10,300 square feet of office space, 22-foot minimum interior clearance, heavy power, dock high and ground-level loading and onsite parking for 150 cars. *** What's your opinion...