Investment Overview

Welcome to an exceptional development opportunity at 6650 Reseda Blvd in Reseda, CA. Marcus & Millichap is pleased to present this expansive 1.57-acre (68,735 square feet) land parcel located in the desirable West San Fernando Valley neighborhood of Park Reseda. Strategically situated just north of the Interstate 101 Ventura Freeway, 6650 Reseda Blvd offers a prime location that provides convenient access to a diverse range of employment and retail options. While the property is approximately 5 miles from Warner Center, its significance is magnified by its close proximity to a myriad of major retail and employment centers. Notably, the property is situated in the vicinity of prominent destinations such as Westfield Topanga, The Topanga Village, Warner Center, Pierce College, Northridge Fashion Center, Van Nuys Airport, Providence Ce-dars-Sinai, and California State University Northridge. These influential centers collectively contribute to the vibrancy and growth potential of the area, enhancing the value proposition of 6650 Reseda Blvd. Moreover, it’s essential to recognize that although 6650 Reseda Blvd is located around 5 miles from Warner Center, its attributes and potential play a pivotal role in the local development landscape. The surrounding area, including 21300 Oxnard Street, is currently experiencing the emer-gence of new hotels, residential complexes, and multi-use developments, further underlining the property’s unique and advantageous position. What sets this opportunity apart is its centrality within reach of some of the nation’s most significant planned developments. Notably, the West-field Promenade, situated just half a mile from the property, has been ac-quired by Stan Kroenke, owner of the Los Angeles Rams. The Promenade is undergoing a remarkable $1.5 billion transformation, envisioned to in-clude retail spaces, Class A offices, two hotels, 14,000 residential units, and an expansive entertainment and sports center. The future direction could encompass the continuation of this ambitious plan, or the site po-tentially serving as the Rams’ Practice facility. Additionally, the Uptown at Warner Center project is undergoing a sub-stantial $3 billion investment for the completion of a sprawling mixed-use development. While 6650 Reseda Blvd is not within Warner Center itself, it stands to benefit from the ripple effects of this dynamic growth. The immediate area is projected to experience remarkable expansion, with plans in place for 37 million square feet of business and residential struc-tures, 14 million square feet of non-residential buildings, the creation of 20,000 new residential units, and the generation of 80,000 jobs. Crucially, 6650 Reseda Blvd is demolished, free of on-site powerlines, and “shovel-ready” for an impressive 180-unit development. This en-compasses 4 residential levels constructed under Type VA specifications, along with over 1 level of parking built to Residential Type IA standards. Furthermore, the property features commercial on-grade construction to Type IA standards, alongside additional subterranean parking span-ning multiple levels, also adhering to Type IA specifications. Seize the opportunity to become a part of the exciting growth and devel-opment in this thriving region. Explore the potential of 6650 Reseda Blvd as a cornerstone of future innovation and progress, strategically posi-tioned to benefit from the nearby growth centers. The Central San Fernando Valley currently has an approximate 3.6% va-cancy rate with only 255 new Class-A apartment units completed over the last few years in the Reseda submarket. There is significant pent-up demand for new, high-quality units as per the many units in the develop-ment and pre-development process, including The Watermark.