Press Releases
Marcus & Millichap Brokers $7.7M Sale of Net-Leased Staples in Woodland Hills, California
September 15, 2026
WOODLAND HILLS, Calif., Sept. 15, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $7.7 million sale of 21825 Erwin St., a corporate-guaranteed, net-leased Staples property located in Warner Center.
“21825 Erwin St. offered a rare combination of durable in-place income and significant long-term redevelopment potential,” said Brandon Michaels, executive managing director investments. “Its location in the heart of Warner Center’s Downtown District, directly across from the planned Rams Village development, made this a compelling covered land investment in one of the San Fernando Valley’s most dynamic mixed-use districts.”
Michaels, based in Marcus & Millichap’s Encino office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, and procured the buyer.
Built in 1978, the 18,210-square-foot building is situated on 1.16 acres at 21825 Erwin St., just east of Topanga Canyon Boulevard. The property is positioned between Westfield Topanga and The Village and directly across from the planned Rams Village at Warner Center redevelopment. Staples has operated at the property since 2015 under a corporate-guaranteed, triple-net lease. The site is zoned for high-density mixed-use development under the Warner Center 2035 Specific Plan, providing the buyer with current cash flow and long-term flexibility after the existing lease.
“21825 Erwin St. offered a rare combination of durable in-place income and significant long-term redevelopment potential,” said Brandon Michaels, executive managing director investments. “Its location in the heart of Warner Center’s Downtown District, directly across from the planned Rams Village development, made this a compelling covered land investment in one of the San Fernando Valley’s most dynamic mixed-use districts.”
Michaels, based in Marcus & Millichap’s Encino office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, and procured the buyer.
Built in 1978, the 18,210-square-foot building is situated on 1.16 acres at 21825 Erwin St., just east of Topanga Canyon Boulevard. The property is positioned between Westfield Topanga and The Village and directly across from the planned Rams Village at Warner Center redevelopment. Staples has operated at the property since 2015 under a corporate-guaranteed, triple-net lease. The site is zoned for high-density mixed-use development under the Warner Center 2035 Specific Plan, providing the buyer with current cash flow and long-term flexibility after the existing lease.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
