Northpark Village
US - Lubbock, TX
SEK 109,634,000 | 6,548 m²
Asset Description
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.
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Attributes
Building area Gross
1,866 m²
Occupancy
96.00%
Year built
2007
Media
Investment Highlights
- EXCELLENT VISIBILITY AND ACCESS
- TRANSIT ORIENTED DEVELOPMENT OPPORTUNITY
- HIGH BARRIERS TO ENTRY
- STRONG DEMOGRAPHICS
- DENSE AND GROWING POPULATION
- PROXIMATE TO MAJOR EMPLOYERS
- UNENCUMBERED ASSET
- OPPORTUNITY & ENTERPRISE ZONE
- WARNER CENTER 2035 PLAN
Contact brokers
21355 Sherman Way (0 Properties)
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Last updated
30 Nov 2022
