Colliers arranged the sale of a 113,500‑square‑foot industrial building located at 12224 Montague St. in Pacoima, within the East San Fernando Valley/North Los Angeles submarket. Terms were not disclosed. The submarket’s industrial inventory continues to rank among the tightest in the region, making the sale a rare occurrence, according to Colliers.
The property was acquired by a partnership between Slater Harding Partners, Foundation Capital Partners and Sierra Ridge Capital. New ownership plans a renovation program to enhance the building’s appearance and operational functionality.
EVPs David Harding, Matt Dierckman and Greg Geraci, along with SVP Billy Walk and senior associate Kevin Carroll, marketed the asset and brokered the acquisition as representatives for the buyers and seller Michael Lichstein. “This sale represents a rare opportunity in a part of the East San Fernando Valley where industrial assets of this size almost never come to market,” said Harding.
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