Lee & Associates Transacts 509,652 SF Land Sale on Behalf of Simi Valley School District

The parcel is the latest in a series of dispositions of surplus land and property for the school district

 

Simi Valley, CA – October 31, 2017— The Simi Valley Unified School District (SVUSD) has sold a 509,652-square-foot parcel of land at 3050 Kadota Ave. in Simi Valley, the latest in a series of moves to dispose of real estate it no longer needs, according to Mike Tingus, President of Lee & Associates-LA North/Ventura who transacted the sale on behalf of SVUSD with Lee’s Grant Fulkerson SIOR and Matt Benwitt.

“The property was once home to Belwood Elementary School, but the school closed a number of years ago,” said Tingus. “As communities like Simi Valley evolve and age, they find themselves with an overcapacity of classroom space. By selling off these assets, the school district is able to deploy the proceeds to meet current needs.”

The buyer, Hufsdar Investors, LLC, has entitled the property for 54 single family residences.

The school district earlier sold the Wood Ranch Conference Center and subdivided its Educational Services Center into three parcels that are also currently being divested. Tingus and Fulkerson assisted in one of those sales as well as the acquisition of a new headquarters facility at 101 Cochran St. The new headquarters, located a mile from its previous location, allows SVUSD to consolidate its administrative functions under one roof and provides much needed space for community outreach.

The Lee & Associates team worked with Joel Kirschenstein, president of Sage Realty Group, Inc. (SRGI), to develop a strategy for divesting the school district’s existing properties and acquiring the new headquarters.