LOS ANGELES-A local Los Angeles investment group has purchased the build-to-suit Easton Sports office building for $12.4 million. The 79,292-square-foot, flex property is located at 7855 Haskell Ave. in Van Nuys, blocks from the Van Nuys Airport.

Built for Easton Sports, a sports equipment manufacturing company, in 1986, the property received ample attention from perspective buyers. “The successful bidder for the property is a group of investors who were attracted to the property due to its key location,” says Gary Weiss of L.A. Realty Partners. Weiss and Lynwood Fields of Madison Partners represented the seller, Easton Properties LLC in the transaction.

Easton Sports has occupied the building since it opened. Other building tenants include Easton Bell, Riddell and Giro Helmets. These tenants have leases at the location through 2016.

Investors have been attracted to the Van Nuys submarket, and it is not uncommon for a property to receive multiple offers. “There is a lot of capital looking for well-positioned assets in prime areas. The competition for this asset was from a broad buyer pool consisting of investors and syndicators. We were pleased with the outcome for our client,” says Fields.

Other recent sales in the submarket include the sale of Vose Manor for $4.1 million to Vose Regency Apartment LLC. The multifamily property was built in 1987 and has predominantly two-bedroom, two-bath units.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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