PACOIMA, CA—Mole Richardson Co., an entertainment equipment supplier, has purchased a 108,000-square-foot industrial facility from Cohen Asset Management Inc. for an undisclosed amount. The buyer is relocating to the area from Hollywood, CA.

Located at 12154 Montague Street in Pacoima, CA, a city in the San Fernando Valley, the facility features 24-foot warehouse clear height, 12 dock-high loading positions and a large trucking court, making it one of the largest buildings in the market. It is located within a larger, 215,874-square-foot property, which recently had a new roof installed. The property is located near the major Southern California freeways, including the 5, 118, 210, 170 and 405.

Mole Richardson was attracted to the area because of the high concentration of entertainment companies located in the submarket, as well as for the desirable location. The submarket has a mere 1% vacancy rate and little land availability for new construction. CBRE's David Harding, Greg Geraci and Barbara Emmons represented the seller in the transaction, while Newmark Grubb Knight Frank's David Lachoff represented the buyer.

Industrial demand is high for all property sizes, especially in constrained markets, like this one. In a recent interview with Jason Krotts, principal at REDA Bascom Ventures, which recently launched industrial development projects totaling 500,000 square feet, told GlobeSt.com, “I think there is demand in all sizes. For example, 80% of all Inland Empire transactions in the first quarter of 2014 were less than 100,000 square feet. Yet, there is over 16 million square feet currently under construction, most of which is for buildings greater than 500,000 square feet.” As the market continues to improve, we will keep seeing demand rise for all facility sizes.