With industrial inventory in Los Angeles becoming increasingly tight, a Chatsworth-based family has turned to Ventura County for their latest investment.
A family trust controlled by Hormoz and Linda Ghaemmaghami has paid $24.5 million to acquire an industrial portfolio in Camarillo, according to property records.
The buyers, which bought the portfolio through a limited partnership, are also tied to a flow meter manufacturing company based in Chatsworth.
The seller was Marcus Adams Properties, a real estate investment firm based in Ventura, the San Fernando Business Journal reported.
Included in the portfolio is the Flynn Road Industrial Park at Calle Tesoro and Avenida Acaso in Camarillo, as well as a 31,390-square-foot structure, also on Avenida Acaso. Combined, the portfolio spans almost 150,000 square feet and 51 units.
Tenants at the properties include Souza Insurance, J.C. Manufacturing & Marketing, United Fabrication, American Motion Systems and Cloud Publishing.
Timothy Foutz at NAI Capital represented the buyer. Mitch Conlee of Daum Commercial Real Estate Services represented the seller.
In L.A. County, industrial properties were among some of the hottest commodities of 2018. Rexford Industrial Realty claimed last year’s biggest deal with its $121 million, or $174 per square foot, purchase of a 695,000-square-foot distribution center in Commerce. [SFVJ] – Natalie Hoberman
Source: The Real Deal Los Angeles