Mike Neil Teams with Senior Industrial Specialist Greg Barsamian to Broker Deal
CHATSWORTH, California (May 10, 2017) – Encino-based Selective Real Estate Investments (Selective 21314 Lassen, LLC) announced it has acquired 21314 Lassen Street in Chatsworth, CA. The seller was represented by Greg Barsamian, Managing Principal, Michael Neil, First Vice President and Mike Centurioni, First Vice President at Coldwell Banker Commercial Advisors (CBC Advisors) of Glendale. Selective was represented by Ron Feder of KW Commercial of Calabasas.
“CBC Advisors is pleased to have had the opportunity to provide consultation and brokerage services to the seller that allowed them to fulfill their financial goals,” commented Greg Barsamian, Managing Principal at CBC Advisors.
21314 Lassen is a 121,146 square foot single-story building on 5.1 acres. The transaction registers as one of the largest industrial building sales in Chatsworth in 2017. The property is walking distance to the Chatsworth Metro Link Station.
“Selective is pleased to expand its ownership presence in Chatsworth and appreciates the opportunity provided by the CBC Advisors and KW Commercial teams,” commented Brian Fagan, Managing Partner at Selective. “Chatsworth is a supply constrained market with upside and should benefit as the Warner Center industrial base shifts in its transition to housing.”
Selective has owned and redeveloped industrial and retail properties in Chatsworth including the former AMF Rocket Bowl and LA Fitness on De Soto Avenue, which Selective redeveloped into a De Soto Square, a Starbucks, Chipotle, and McDonalds anchored property. Selective owns and manages over 1.5 million square feet of commercial properties.
As a full-service commercial real estate brokerage, CBC Advisors represents world-class office, retail, investment, industrial and multifamily projects while providing institutional-grade asset services nationwide. More than 500 CBC Advisors professionals advise clients from 30 offices coast to coast.