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REDA Residential JV Acquires 7.05-Acre Culver City Redevelopment Site

Property Image
SOLD
Gabe Wilson
Mark Reynolds
+ 5

California

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Retail141,068 SF
Sold 03/08/2024
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Property Image
SOLD

REDA Residential JV Acquires 7.05-Acre Culver City Redevelopment Site

6201 Bristol Parkway & 6229 Bristol Parkway

See Similar Deals
Retail141,068 SF
Sold 03/08/2024
Gabe Wilson
Mark Reynolds
+ 5
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:141,068 SF
Transaction Type:Sale

The property at 6201-6229 Bristol Pkwy in Culver City, California, is a retail asset spanning approximately 70,534 square feet. The site sits on an extraordinary ±7.05-acre redevelopment site with potential for multifamily, medical, hospitality, office, and retail uses.

Summary of transaction details:

Ally Commercial Real Estate, represented by Luc Hawkshaw, Eric Mandell, Mark Reynolds, and Gabe Wilson, facilitated the sale of the property. Culver City's growing demand for housing has driven interest in the site, with new housing goals set to be achieved by 2029 to meet the city's increasing housing needs.

Players

Laurie Lustig Bower
18 deals$566.4M volume(310) 550-2556
BROKER

Kamran Paydar
CBRE
11 deals$301.3M volume
BROKER

Luc Hawkshaw
Ally Commercial Real Estate
25 deals$150M volume(424) 317-0308
BROKER

Eric Mandell
Ally Commercial Real Estate
31 deals$212.5M volume(424) 317-0308
BROKER

Mark Reynolds
Ally Commercial Real Estate
4 deals$38.2M volume(214) 938-9875
BROKER

Gabe Wilson
Ally Commercial Real Estate
3 deals$7.1M volume
BROKER

Kadie Presley Wilson
CBRE
4 deals$45.3M volume
BROKER

Details

SOLD
IMAGE: Luc Hawkshaw, Eric Mandell, Mark Reynolds, Gabe Wilson, Laurie Lustig-Bower, Kamran Paydar, Kadie Presley Wilson & Connie Lu DATE: 03/08/2024 ADDRESS: 6201-6229 Bristol Pkwy MARKET: Culver City ASSET TYPE: Retail ~ SF: 70,534 BUYER: REDA Residential in a JV with a private family office BUYER'S REP: Luc Hawkshaw (@Luc_Hawkshaw), Eric Mandell (@EricMandellRE), Mark Reynolds (@MarkReynolds_comre) & Gabe Wilson (@WilsonCommercialRE) - Ally Commercial Real Estate (@AllyCommercialRE) SELLER'S REP: Laurie Lustig-Bower (@laurie.lb88), Kadie Presley Wilson, Kamran Paydar & Connie Lu - CBRE (@CBRE) NOTE FROM BUYER'S REP: Ally Commercial Real Estate is pleased to present the sale of an extraordinary ±7.05-acre redevelopment site in Culver City, California with potential for multifamily, medical, hospitality, office and or retail uses. NOTE FROM SELLER'S REP: Culver City is experiencing an ever-growing demand for housing and the City has an added incentive to utilize this property for multifamily housing following the adoption of new housing goals aimed to help the City meet its growing demand by 2029.

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