J. Richard Leyner and Doug Cole of NAI Capital have closed a string of retail sales and lease transactions on Ventura Boulevard in Encino. One of the deals fills a prominent semi big-box location in the area. The duo represented landlord, Plaza INV, in the lease of 23,969 square feet of retail space at 17222-17230 Ventura Blvd. Michael’s Stores Inc., represented by Michael Jenson of Pacific Retail Partners, signed a 10-year lease worth approximately $1.3 million. The arts and crafts company will occupy the Aaron Brothers and Thomasville spaces. Leyner and Cole represented landlord, Encino Equity, in the lease of 12,850 square feet of space at 17953 Ventura Blvd. Paul Bartlett of Studley represented tenant, Beverages & More, Inc. The 10-year lease is worth approximately $3.4 million and the company plans on opening one of its chain wine, spirit and beer stores in the 99¢ store space. However, the lease is contingent on Beverages & More obtaining a liquor license. And to cap it off, they represented Encino Shoppes, LLC in the sale of a retail center at 17301 Ventura Blvd. Sam Monempour of NAI’s Encino office and Chris Jackson and Todd Lorber of the company’s Santa Clarita office represented the buyer, Encinvest VL, Inc. The transaction was valued at approx. $4.2 million. Granada Hills Townhome Project Trumark Homes and Resmark Equity Partners, LLC recently closed on the purchase of a nine-acre new townhome community in Granada Hills. The transaction was valued at $8.4 million. The gated community, renamed “High Lights,” consists of 82 homes, a lookout park, walking path and pool area. The first models will be open to potential homebuyers at the grand opening on April 24. Prices are anticipated to start in the low $300,000’s. Resmark Equity Partners provided capital to purchase the land and Trumark will construct and market the new townhome community over the next two years. Trumark is placing finishing touches on four model homes. Located on the corner of Odyssey Drive and Blucher Avenue, the townhome community is approved for 82 single-family townhomes of which 13 are completed and ready for sale. The company is offering the two- to three-story townhomes in six different floor plans. Agoura Hills Land Sale Colliers International directed the sale of a 10-acre land parcel in Agoura Hills to Dale Poe Real Estate Group, Inc., owners of the Agoura Business Center. Located along Highway 101, the parcel is fully entitled for a 103,070 square foot multi-tenant industrial project. The proposed project is approved by the City of Agoura Hills and the sales price was $4.25 million. “This parcel is critical to the continuing success of the Agoura Business Center,” said Roger Beck, who represented the buyer along with Gelena Skya of Colliers. “Considering the freeway frontage and proximity to Poe’s existing project, the property will be developed to expand the industrial real estate availability in Agoura Hills.” “This is one of the last available industrial parcels in the Conejo Valley, and possibly the last opportunity to develop a project such as this in the immediate area,” said John DeGrinis of Colliers, who represented the seller, Komar Investments, with Patrick DuRoss, and Jeff Abraham. Production Property Acquired A commercial property that has offices in a converted residential bungalow and full production facilities in a second building at 4420 Lankershim Blvd. sold for $1.6 million, according to Scott Romick and Steve Scott of Lee & Associates. The duo represented the seller in the North Hollywood transaction. “This was an especially attractive property for anyone in the entertainment business,” said Romick. “The main house offers the kind of creative work situation that many people look for today. The separate production building is fully equipped with edit bays, and it is all wrapped up in a private, gated compound that has 14 parking spaces and is close to the studios.” The two buildings total 4,840 square feet and include six fully-equipped edit bays, a sound room and a voice-over booth. The bungalow includes offices, restroom and a kitchen. The seller is an independent production company. The buyer is BK Classik Studios LLC, a music production company owned by Brian Kennedy who has produced and co-produced such artists as Ciara, Rihanna, Jennifer Hudson and Chris Brown. BK was represented by Dennis L. Earls of Secured Property Inc. Harvey Green Retires Marcus & Millichap Real Estate Investment Services announced that president and chief executive officer, Harvey E. Green, retired from the firm. A formal search for his replacement is being initiated with Green’s input and participation. Green joined Marcus & Millichap in 1981 and quickly rose through the ranks. He opened the firm’s Encino office, which became a flagship operation, and was named chief operating officer in 1996 and president and CEO in 2000. Green led the company’s growth from 22 offices and 424 agents in 1996 to 76 offices and more than 1,200 agents currently. During this period, the volume of transactions arranged by the firm grew from just over 1,000 in 1996 to more than 3,400 in 2009. Green is a frequent contributor to media outlets such as CNBC, Fox Business News, Wall Street Journal, New York Times and Los Angeles Times. Staff Reporter Eric Billingsley can be reached at (818) 316-3124 or at [email protected].
NAI Team Rockin’ the Retail Sales and Leases on Ventura
