A 37,600-square-foot industrial property in North Hollywood has sold for $14.3 million, or $380 per square foot.
The property is located at 5446-5450 Satsuma Ave. Built in 1952 and renovated in 2017, the site features four buildings including 13,000 square feet of cargo containers converted to creative office space, a 1,400-square- foot office, and a pair of warehouses spanning 8,000 square feet and 20,000 square feet.
The property is situated minutes from the 101 and 134 freeways and the NoHo Arts District.
The buyer operates a full-service creative studio for content creation. The new owner plans to occupy the property.
The East San Fernando Valley is one of the most-sought submarkets in the region from media and entertainment users. The location, layout and functionality of the property is ideal for the buyer’s business.