Marcus & Millichap closed the sale of 14651 Ventura Blvd., a locally owned and operated Burlington store in Sherman Oaks. The sale price was $11,225,000.
“Sherman Oaks remains a highly sought-after retail market due to its strong demographics, established consumer base and strategic location within the San Fernando Valley,” said Lior Regenstreif, executive managing director investments. “The property’s single-tenant net-leased structure and prominent Ventura Boulevard location made it an attractive investment opportunity.”
Regenstreif, investment specialist in Marcus & Millichap’s Encino office, procured the buyer, a local private investor. SRS represented the seller.
Built in 1999, the 24,890-square-foot, single-tenant property is situated on a 0.79-acre parcel located along Ventura Boulevard in the heart of Sherman Oaks. The location offers convenient access to the Sherman Oaks Galleria, Westfield Fashion Square, major freeways and a diverse mix of retail, dining and entertainment amenities, according to Marcus & Millichap.
