Sanwall Properties has shelled out nearly $1 million for the property, which is located in the Pacific Commerce Center area of Oxnard, near St. John's Hospital. The parcel is situated at the northwest corner of Lombard and Wankel.
Silverado Senior Living was represented by Scott Crane of the West Los Angeles branch of NAI Capital Commercial. Fred Ferro, also with NAI Capital Commercial, acted on behalf of Sanwall Properties.
Undeveloped land parcels continue to be a scarce find in the Southland, as the steady stream of new construction here has left a shortage of buildable lots. According to a report by real estate research firm PPR, Southern California's construction pipeline has remained fairly steady over the past two years. In the office sector for example, there was a high of 2.4 million sf of construction starts in March 2001. Although this figure dipped to 1.2 million sf in March 2002, it was far above Northern California, which only had approximately 500,000 sf of office construction starts for the same month.
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