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**Private Investor Acquires Van Nuys Retail Property for $11.39 Million**
CBRE has facilitated the sale of an 18,296-square-foot retail property in Van Nuys for $11.39 million. The buyer, Sherman Way 26 Properties, LLC, is a local private investor. CBRE’s Alex Kozakov and Pat Wade represented the seller, Duckhorn Partners, LP, in the transaction.
The property, located at 14434-14480 Sherman Way, encompasses two buildings on a 1.21-acre lot. Built in 1995, it offers 70 parking spaces and is fully leased to a national healthcare provider and El Gallo Giro, a regional restaurant chain. Both tenants occupy the space under long-term triple-net (NNN) lease agreements.
Strategically positioned at the busy intersection of Van Nuys Boulevard and Sherman Way, the retail center benefits from high visibility with traffic counts exceeding 86,800 vehicles daily. The property is situated in the heart of the San Fernando Valley and serves a dense population, with over 328,000 residents living within a three-mile radius.
“There is strong demand and premium pricing for prime locations with high barriers to entry and an established tenancy,” said Kozakov.
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