The new owner of the 0.4-acre property, which is located at
642 W. Iris Drive, is Valo LLC. That entity is affiliated with California-based Avalon Industries, which designs and produces music recording systems.
The site offers a commercial building with a combination of warehouse and office space. Having most recently accommodated Vision 2 Marketing, the building has no tenant.
Andy Hong and music industry official Reid Shippen were the sellers. They paid $1,975,000 ($223 per square foot based on the building’s size) more than double the price at which it previously changed ownership hands a bit more than four years prior to the June 2020 transaction. They had asked $2.8 million.