VIG Furniture Buys South Florida Warehouse
Property, Construction, Furniture and Electronik

VIG Furniture Buys South Florida Warehouse

3600 North 29th Avenue in Hollywood (Google Maps, VIG)

3600 North 29th Avenue in Hollywood (Google Maps, VIG)

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.