In what may be an indicator of additional conversions of older San Fernando Valley buildings to new uses, officials of an undisclosed charter school have paid $6.2 million for an 83,538-square-foot industrial building on three acres of land in Sylmar, Calif., according to Delphi Business Properties.
The buyer has plans to establish a school at the site, Delphi said.
PCSD Foothill LLC acquired the freestanding building on a key corner location at 12800 Foothill Blvd. from the Brown Family Property LLC.
Van Nuys, Calif.-based Delphi and GVA DAUM represented the sellers. Grubb & Ellis represented the buyers.
Originally built for manufacturing, warehousing and distribution uses, the building is familiar as the one time home of Lone Star Studios. The 25-year-old, concrete tilt-up structure currently features 10,300 square feet of office space, 22-foot minimum interior clearance, heavy power, dock high and ground-level loading and onsite parking for 150 cars.
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