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Overton Moore Properties (OMP) has made a strategic acquisition in the San Fernando Valley, adding a near eight-acre entitled land site to its portfolio, highlighting the growing demand in Studio City Commercial Real Estate. The property, purchased from United Technology Corp., is situated at the southeast corner of De Soto Avenue and Nordhoff Street and is zoned for both retail and industrial uses. Timur Tecimer, CEO of OMP, emphasized that large vacant parcels like this are rare in the San Fernando Valley, noting that the company has been monitoring this site for over a decade.

OMP plans to develop the site with a mix of four industrial condominiums and retail space, targeting a construction start date of September 1st and expected completion in the first quarter of 2015. The retail portion will include 17,000 square feet, with anchor tenants Farmer Brothers and El Pollo Loco already signed.

For the industrial component, OMP will construct four condominiums totaling 112,500 square feet. Drawing on its experience with the Northridge Business Center, a 16-unit industrial project completed in 2005, OMP will include features such as fenced yards, dock-high loading, 120-foot truck boards, and 10% mezzanines. The units will range in size from 25,000 to 30,000 square feet.

This acquisition underscores the value and potential of the region for investors, and the project will be managed in partnership with DMC Investment, ensuring high-quality development and long-term success.