BUILDING SELLS AT PREMIUM IN VALLEY; INDUSTRIAL MARKET TIGHTENS IN REGION.

Byline: Gregory J. Wilcox Daily News Staff Writer

In a deal that underscores the scarcity of industrial space in the San Fernando Valley, a prime manufacturing building has been sold for the second time in five months at a 25 percent premium.

Northridge-base Delta Tau Data, which manufactures motion control computers, paid $6 million for the 121,146-square-foot building at 21314 Lassen St., the former Sanyo-Fisher stereo component plant.

The building had been bought by Keshvar LLC in September for $4.8 million.

Keshvar is the parent company of E&S International, an electronics distributor based in the 7800 block of Canoga Avenue in Canoga Park. E&S initially planned to move into the building but decided to offer it for lease before Delta made its purchase pitch.

The deal was a case of the buyer seeking out a seller.

This was the last available building of more than 100,000 square feet in the West Valley, said agent John DeGrinis at Seeley Company in Encino, who represented Keshvar.

In fact, the market for this type of space is tight all across the Valley, he said .

``There is no product available right now,'' DeGrinis said. ``There is a lack of available land in the Valley. We're really looking at a scenario where there won't be much new development at all.''

Delta Tau Data is planning an April move.

Dimitri S. Dimitri, Delta's president, said his company simply needed room to grow.

Delta has about 130 employees and expects to about double its work force over the next two years to keep pace with product demand. The new facility will be more than four times the size of its existing plant in the 9000 block of Winnetka Avenue.

``We have outgrown this building,'' Dimitri said. ``It's been a very nice building but there is just too much equipment here.''

He had no thoughts of leaving the Valley and said that the city of Los Angeles used its business retention program to assist in the move to a new neighborhood.

``We have a lot of very highly paid employees and they are hard to get to move. So we decided it would be better to stay in the city,'' Dimitri said.

Delta received a loan package totaling more than $7 million from the city's Industrial Development Authority to help with the move, a city official said.

The money will be used to buy the building, new equipment and to defray moving costs, Dimitri said.