Developer Jamison Properties has acquired a 0.65-acre land site in West L.A. and plans to build approximately 100 apartment units. The developer purchased the site from a family partnership of local investors for $16 million or $564 per square foot.
The property is located at 11600 Santa Monica Blvd. The sellers operate a car wash on the property and will lease back the site while the buyer secures entitlements.
Laurie Lustig-Bower and Kadie Presley Wilson of CBRE represented the seller.
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Kelsi Maree Borland
Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.
