Furniture wholesaler pays $9M for Hollywood distribution facility

A California home furniture wholesaler bought a Hollywood industrial building to serve as a distribution facility for $9.1 million.

Records show Los Angeles-based VIG Furniture bought the property at 3600 North 29th Avenue from TMS Hollywood Properties, which is tied to RS Trading Company.

The 75,988-square-foot building was constructed in 1969 across 2.5 acres, according to property records. It last traded in 2015 for $4.5 million.

VIG, which exclusively carries some manufacturers, sells mid- to high-end contemporary, modern, transitional and classic furniture, according to its website. It also has a Las Vegas showroom and a warehouse in Vernon, California.

RS Trading is a distributor and wholesaler of apparel, footwear, electronics, toys, furniture and other merchandise, according to its website. It sells closeout, liquidation and surplus items.

The deal is the latest in a slew of Broward County purchases of industrial real estate, as the asset class has been on an upswing in light of e-commerce.

Andrew Naumov, an executive of Richmond, California-based West Coast Shipping, bought a Fort Lauderdale warehouse at 6001 North Powerline Road for $10.6 million in April. This came on the heels of Hollywood-based Koda Interstate purchasing a Riviera Beach facility for $12.8 million.

In March, Triarch Capital paid $10.4 million for a warehouse distribution property in Dania Beach.