Delma Buys 2 Valley Office Buildings

Two San Fernando Valley office buildings have been purchased by New York-based Delma Properties for a total of more than $24 million, according to Madison Partners and Lee & Associates, brokers who negotiated the transactions. Privately held Delma entered the Los Angeles market in September when it bought the 18-building Warner Commerce Center complex in the Warner Center district for $15.6 million. Its latest acquisitions are the Sherman Oaks Atrium in Sherman Oaks and the West Hills Plaza in Woodland Hills. The seller was Advent Realty, which renovated both steel-frame buildings after the 1994 Northridge earthquake. The Sherman Oaks Atrium is a four-story, 96,000-square-foot building completed in 1984. West Hills Plaza is a three-story, 84,000-square-foot building built in 1988. Together they are about 88% leased.