Canoga Park FedEx Ship Center Acquired for $16.3 Million

A 50,000-square-foot distribution center located at 21300 Vanowen St. in Canoga Park was acquired for $16.3 million, or $326 per square foot. The property was triple net leased to FedEx Ship Center, which fully occupied the property.

“We are happy to help our client acquire a core asset at a competitive return that has a long-term value-add play on the land’s value,” said Ari Greene of Marcus & Millichap, who represented the buyer, in a statement.

The facility sits on 2.4 acres and features a 16-foot clear height with 11 dock-high and grade-level doors.

Information for this article was sourced from Marcus & Millichap.