4/29/2009

Marcus & Millichap lists $12.95M California development site

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Marcus & Millichap has been hired to market and sell a 150,486-square-foot development site in Valley Village, Calif., for a listing price of $12.95 million, on behalf of a Southern California-based private investor.

Greg Harris, executive vice president and a senior director of the firm's National Multi-Housing Group in Encino, is representing the seller.

Located at 12629-12729 Riverside Drive, and known as Sherman Village, the property is a 3.45-acre site entitled for the development of 264 multi-family units on eight parcels. It sits in a district in the San Fernando Valley region of Los Angeles, near U.S. Route 101, the Ventura Freeway, Interstate 405, the San Diego Freeway and State Route 170.

Address: 12629-12729 Riverside Drive, Valley Village, Calif.

Size: 150,486 square feet

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Filed Under: Multi-Family

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