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| Chris Maling |
MALIBU, CA. (Oct. 22, 2012) Chris Maling and David Maling of The
Maling Team with Colliers International have been tapped by Malibu Residential
Housing Group, LTD to market for-sale the Wave Property, an investment
opportunity consisting of approximately 9.2 acres of land located in the heart
of downtown Malibu, in California.
The asset, which is offered at $14 million, is currently
zoned as CC (Community Commercial), allowing for a wide variety of uses,
including office, retail, restaurants, senior housing and storage.
Additionally, this is the largest undeveloped contiguous commercial land parcel
available in Malibu.
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| David Maling |
This site will appeal to existing owners of coastal real
estate in California, Oregon and Washington as well as entities that have been
waiting for the right opportunity for irreplaceable real estate to develop
senior housing or production facilities.
“Our marketing strategy involves leveraging the Colliers
platform by targeting our existing client relationships locally, then regionally,
then nationally and lastly our international outreach,” said Chris Maling,
senior vice president/retail investments, with Colliers International. “We are
receiving interest from investors in China and India as well as Sovereign
Wealth Funds in the Middle East like the United Arab Emirates and Qatar.”
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| 9.2-Acre Wave site, Malibu, CA |
Chris Maling added: “This site is so rare and unique that I
compare it to a quote from the author Mark Twain: ‘I rarely seized an
opportunity until it ceased to be one.’"
The Wave Property is ideally located on La Paz Lane off of
Civic Center Way and adjacent to the County Library and the Los Angeles County
Courthouse, with close proximity to City Hall, several restaurants, a movie
theater, shopping and the beach.
“Malibu is a unique and incomparable California city,” said
David Maling, senior vice president/retail investments, with Colliers
International. “There is a rare nugget of opportunity here for an investor to
take advantage of an irreplaceable location for a development that can reflect
the culture, aesthetics and needs of the local community.”
The selling entity is a partnership that is dissolving by
court order and this asset in the portfolio must be sold.
Malibu, California is a beachfront city in northwest Los
Angeles County. Malibu has 21 miles along the Pacific coastline. The community
is famous for its warm, sandy beaches, and for being the home of many Hollywood
movie stars and others associated with the entertainment industry.
The city is bounded by Topanga Canyon to the East, the Santa
Monica Mountains consisting of Agoura Hills, Calabasas, and Woodland Hills to
the North, the Pacific Ocean to the South, and Ventura County to the West.
Malibu’s beaches include Surfrider Beach, Zuma Beach, Malibu State Beach,
Topanga State Beach, Point Dume State Beach and Dan Blocker Beach.
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| Los Angeles County Courthouse |
Most Malibu residents live within a few hundred yards of
Pacific Coast Highway (State Route 1), which traverses the city, with some
residents living up to a mile away from the beach up narrow canyons, and many
more residents of the unincorporated canyon areas identifying Malibu as their
hometown.
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
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