Monday, October 22, 2012

Colliers International Tapped to Market Largest Undeveloped Contiguous Commercial Land Parcel in Malibu



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.

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.”

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.

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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