Warehouse Bought for $13.2 Million
A Los Angeles-based partnership has paid $13.2 million for a 300,000-square-foot warehouse, one of the largest such buildings in the Valley, executives from the purchaser confirmed last week.
Pacific West Management, with offices in Encino, bought the building from Chicago-based Federated Industries on Sept. 18, said Adam Milstein, co-owner of the building along with David Hager.
Pacific West owns about 5 million square feet of commercial property and nearly 3,000 apartment units in Southern California.
The newly acquired building, on the southwest corner of Sherman Way and Tujunga Avenue, is being used by Southern Wine and Spirits, whose lease expires in 2007, Milstein said.
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