(Read more on the industrial market.)
VALENCIA, CA-Home decorative accessories firm Zodax has acquired a 71,000-sf distribution and manufacturing facility from Valencia Commerce Center for $9 million, according to Delphi Business Properties Inc. David Hoffberg, senior vice president of Van Nuys-based Delphi, reports that the firm is consolidating activities formerly conducted in San Fernando and Panorama City into the new facility at 29003 N. Avenue Sherman in Valencia Commerce Center.
Hoffberg and Jerry Scullin, chief operating officer of Delphi, represented Zodax. The seller was represented by Craig Peters and Doug Sonderegger of CB Richard Ellis.
According to Philip Cohanim, president of Zodax, the company needed expansion space that would enable it to combine operations from two facilities under a single roof. "It was difficult finding such a facility in the San Fernando Valley that was suitable so we had to move further out," Cohanim says.
Zodax will employ approximately 25 workers at the Valencia site, which will be used for the manufacture and distribution of candles and the distribution of imported goods. The company, which is headquartered in a 100,000-sf building at the Plant in Panorama City, was founded in 1990 and has become one of the premier sources of decorative and fragranced candles.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
