Located on Roscoe Blvd at the south-bound on ramp of the 405 Freeway, the plans call for a 127,000 SF, seven-story structure which will be the 66
th
property for Storquest in California. The property currently holds an 8,000 SF, one-story structure, which will be demolished.
“In this case, the seller had purchased the property more than 14 years ago with the intent to develop it; however, it never happened,” said Schoenbrun, who represented the seller in the original 2006 transaction. “When they decided to sell, Storquest made an ideal purchaser given the location and the use requirement. They also understood the long lead time that entitlements can take – we had to get several extensions – and were willing to wait.”
Construction is expected to start in August of this year with completion anticipated in 4
th
Quarter, 2021.
About Lee & Associates - LA North/Ventura, Inc.
Celebrating 40 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada. With more than 900 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Lee & Associates-LA North/Ventura, Inc. provides industrial, office, retail and multifamily/investment and development land brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. For more information, visit
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