Precision Properties negotiated the sale of a 129,000-square-foot, multitenant industrial facility on 5.5 acres in Sun Valley, Calif.

The value of the transaction was $13.8 million.

A San Fernando Valley developer/investor, ACC/CLYMEMBERS LLC, purchased the property with plans to convert it into industrial condominiums. North Hollywood-based Clybourn Properties LLC sold the asset.

The property, located at 7606-7660 Clybourn Ave. and 7605 and 7616 Wheatland Ave., currently provides units from 5,000 to 30,000 square feet.

“With the scarcity of industrial property in the San Fernando Valley and a pent-up demand by moderately sized business owners to own their own facilities, conversion of a multitenant building to condominiums responds to the market need,” said Eli Anishban, president/broker of Precision Properties.

Precision Properties is a commercial and industrial real estate brokerage company focusing on the San Fernando Valley and adjacent areas.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top