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.”
Development Site Sold in Valencia Commerce Center
