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GLENDALE AND SUN VALLEY, CALIF. — Palatine Capital Partners has acquired two industrial parks in the San Fernando Valley. A private investor sold the multi-tenant assets for $30.6 million.
The properties are a 46,335-square-foot building on 1.9 acres at 820 Thompson Ave. in Glendale and a 98,295-square-foot facility on 2.8 acres at 7764-7766 San Fernando Road in Sun Valley.
Both industrial parks are currently 100 percent occupied, with some rents below market. The buyer plans to add value during future lease-ups as new tenants come in.
Kelly Betpolice of Kidder Mathews represented the buyer in the transaction.