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Thursday, May 19, 2022

Development Site Sold in Valencia Commerce Center

A development site in the master-planned Valencia Commerce Center closed escrow for $9.5 million.The industrial-zoned parcel at 28541 Witherspoon Parkway consists of 5.5 acres.Jim Ebanks and Lauren Hunt of Realty Advisory Group Inc.’s LA North Office represented the seller, Witherspoon & Penn Properties LLC. Mark Repstad, formerly a broker with Realty Advisory Group, represented the buyer of the property, SF-540 Witherspoon LLC.“The L.A. Northwest region market is a mature industrial market with many diverse uses such as manufacturing, entertainment, distribution, biomedical technologies and other high-tech operations. Over the course of many years, the diversity of users has also attracted companies of all sizes,” said Ebanks in a statement. “The property has outstanding access to interstate 5 (freeway) and also features panoramic views across the Santa Clarita Valley.”

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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