Gelb Group of Encino sold and bought a pair of equal value properties in Woodland Hills and Granada Hills in a 1031 exchange, a way for investors to defer paying capital gains tax on the sale of property.<\/p>\n
Development and property management firm Gelb Group sold an 8-acre shopping center at 16201 to 16269 San Fernando Mission Blvd., for $23 million to Harridge Development Group of Los Angeles.<\/p>\n
According to California Realty Group in Santa Monica, which brokered the deal on behalf of Gelb, Harridge hopes to redevelop the property into a housing and retail community with 440 apartments and 60,000 square feet of retail space.<\/p>\n
In the second deal, Gelb bought a 108,000-square-foot office building at 6200 Canoga Ave. in Woodland Hills\u2019 Warner Center for $22 million from Canoga Center Holdings.<\/p>\n
Broker Mark Esses with California Realty negotiated both off-market deals on behalf of Gelb. He said Harridge plans to redevelop the Granada Hills Plaza into apartments and retail because it\u2019s the highest and best use of the property.<\/p>\n
\u201cMixed-use development has been a trend for some time now because of the increasing land values,\u201d Esses said. \u201cIn the last few years, outdated and obsolete retail centers are being morphed into great mixed-use projects.\u201d<\/p>\n
The trend will continue, he added, because of e-commerce\u2019s success, which has caused many big box retailers to close stores.<\/p>\n
<\/p>\n
For more information contact us at 818-501-5518<\/p>\n
Courtesy of San Fernando Valley Business Journal<\/p>\n","protected":false},"excerpt":{"rendered":"
Gelb Group of Encino sold and bought a pair of equal value properties in Woodland Hills and Granada Hills in a 1031 exchange, a way for investors to defer paying capital gains tax on the sale of property. Development and property management firm Gelb Group sold an 8-acre shopping center at 16201 to 16269 San […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-242","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=\/wp\/v2\/posts\/242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=242"}],"version-history":[{"count":2,"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=\/wp\/v2\/posts\/242\/revisions"}],"predecessor-version":[{"id":244,"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=\/wp\/v2\/posts\/242\/revisions\/244"}],"wp:attachment":[{"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.onesourcepropertymanagement.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}