Retail

21355 Sherman Way

21355 Sherman Way, Canoga Park, CA, 91303-1547, US

21355 Sherman Way_Property for Sale

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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.

Attributes

Building area gross
20,082 sf
Occupancy
96.00%
Year built
2007

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

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Last updated
Aug 11, 2022