VITAL STATISTICS
21300 W Oxnard Street, Woodland Hills
Deal Value: $15.8M
One of the few remaining significant development parcels in Warner Center, located at 21300 Oxnard Street in Woodland Hills, was brokered for sale to provide 301 affordable housing units while replacing a blighted office building. Brandon Michaels and Lonnie McDermott of Marcus & Millichap brokered the sale while representing both seller and buyer.
This transaction highlights a prominent trend to provide much needed affordable housing while replacing the depressed office product that currently occupies the nearly 100,000 square foot parcel. The agents strategically utilized their buyer relationships and the Mayor’s Directive 1 program to gain support from the West Valley Alliance for Optimal Living.
VITAL STATISTICS
8213-8217 Winnetka Avenue, Winnetka
Deal Value: $5.5M
The 8213-8217 Winnetka Ave. land property was a notable transaction due to its complexity, strategic thinking, and successful outcome. Floyd Shaheen of Marcus & Millichap listed and sold the deal comprised of two parcels totaling 63,756 square feet, approximately 1.46 acres, with one parcel zoned as RA-1, a very low-density zoning.
The successful sale of the complex site at a price point that surpassed initial expectations underscores Shaheen’s expertise in navigating intricate transactions and turning challenges into opportunities.