A $14.5 Million Industrial Sale In Burbank
29 Jun, 2005, Burbank, CA
The Uhlmann Offices sold its 135,000 square-foot industrial facility, located at 2980 San Fernando Road, to First Industrial Realty Trust for $14.5 million.
John Minervini, Steve Algermissen, Robin Dodson and Erik Larson of Cushman & Wakefield represented both sides in the transaction.
The building was rehabed in 2004 with new office and manufacturing space added. Its proximity to the Burbank Airport and I-5 freeway frontage make it a desirable location for conducting business in the area.
Senior Aerospace, a components manufacturer for the aerospace industry, occupies the building on a long-term lease.
"The facility was a perfect match for one of First Industrial's net leased funds. Long-term net leased industrial investments are very hard to find anywhere," says John Minervini, Senior Director.
Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 175 offices in 50 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.