Sales Set Up Retail Developments

MOORPARK, CA-The buyer of 11.5 acres of land here plans to build a 131,000-sf retail center, and the buyer of a Culver City parcel is also considering a retail project, according to Lee & Associates. Mike Tingus of the Lee & Associates-LA North/Ventura office in Sherman Oaks reports that a joint venture of Nearon Enterprises LLC and M.W. Ossola and Associates Inc. bought the Moorpark land parcel for $9.6 million, while Duncan Lemmon of the Sherman Oaks office reports the $6.3-million sale of a redevelopment property in Culver City that is a likely site for a retail project.The 11.5-acre Moorpark parcel is at 800 New Los Angeles Ave. and was sold by Cypress Land Co., with Tingus representing both the buyer and the seller in one of the largest commercial land sale in the City of Moorpark in about a year. The buyer plans to develop a retail center called Moorpark Village Shopping Center, which will be anchored by Chicks Sporting Goods and Petco.In the Culver City transaction, Lemmon reports that Les Surfas of the Surfas commercial kitchen design, cookware and specialty food retailing business bought the redevelopment property at 8777-8781 Washington Blvd. from Harriscope of Los Angeles. The property is on the northeast corner of Washington and National boulevards, adjacent to the landmark Helms Bakery complex, and includes nearly an acre of land plus a vacant 14,226-sf building. Lemmon calls the property "an excellent candidate for mixed-use schemes," pointing out that the parcel is within the a city redevelopment area that is attracting restaurants, creative businesses and "upscale purveyors of everything from art and furnishings to small venues for live theater and music." Lemmon represented the seller, with Jonathan Wolk of Lancelot Commercial representing the buyer.