US - Lubbock, TX
A$15,149,000 | 6,548 m²
JLL is pleased to offer the opportunity to acquire 21355 Sherman Way (the “Property”), a 20,310 square-foot strip center in Canoga Park, CA. Delivered in 2007, the 96% leased center provides stable cash flows with strong national tenancy from the likes of Starbucks and Speedy Cash. Strategically
located in an opportunity zone on the hard corner of heavily-trafficked Sherman Way and Canoga Avenue, the Property offers excellent visibility to over 67,000 VPD with 700 feet of building frontage. Current LAM1 zoning (Light Manufacturing) allows for a mix of commercial and industrial uses. A
proposed zoning change to Neighborhood Center is projected to allow for a mix of residential and commercial uses with an allowable FAR of up to 4.0. 21355 Sherman Way offers investors the chance to acquire a highly stable strip center in a dense, infill area with future upside potential.