A Northridge industrial building has sold for $4.5 million. The deal on the 1963-built, 25,440-square-foot home of Far West Lumber, located at 18450 Parthenia Place, was finalized Jan. 23. Far West will continue to lease the property. According to a statement by Van Nuys-based brokerage Delphi Business Properties, the company’s Senior Vice President David Hoffberg represented buyer Topanga Northridge LLC. Encino-based Beitler Commercial Realty Services’ industrial team Ron Ka

The industrial market has unarguably been the hottest market in Southern California—yet surprisingly the vacancy rate in Los Angeles ticked up in the fourth quarter of 2018. According to a recent report from Avison Young, the vacancy rate increased nearly a full percentage point to 3% at the end of 2018, up from 2.1% in 2017. For 2019, the report forecasts that the vacancy rate will remain at 3% in 2019. While 3% is still a very tight market—and no reason for users hunting fo

Technology can assist all property owners in the upkeep of their buildings. But it can be particularly helpful with triple net leases, where in addition to rent and utilities, tenants pay for taxes, insurance and maintenance. When a net lease expires, a landlord returning to his or her property could find equipment, which cost just say $250,000 and should have lasted as long as 20 years, needs replacement after seven or eight years thanks to the tenant’s poor maintenance. Oft