Borstein Enterprises and G3 Urban Joint Partnership Close on 30 Three-Story Townhome Lots in Gardena, CA
Land Advisors Organization pleased to announce the closing of 30 townhomes to a partnership between Borstein Enterprises and G3 Urban to develop a new residential community in Gardena. Construction is set to begin this month with models expected to open by Q3 2022.
The community was purchased with approved entitlements consisting of 30 three-story townhomes ranging from approximately 1,100 to 1,700 square feet.
“Gardena is a very strong market in the South Bay, with great access to Downtown, Silicon Beach and Orange County,” says Chris Gomez-Ortigoza, Senior Vice President at Land Advisors Organization. “The proximity to the beach and a wide variety of Fortune 500 employers makes Gardena an extremely desirable market.”
The 0.90-acre site is situated on Normandie Avenue, north of West 158th Street, close to Interstate 110 and Interstate 405, allowing for a smooth and efficient commute to Los Angeles International Airport or major employers within the South Bay, Downtown Los Angeles and West Los Angeles.
“The Property is situated in the heart of the “South Bay” region, which is one of the most supply constrained submarkets in Los Angeles County,” states Tim Barden, Senior Vice President at Land Advisors Organization. “Since there are limited opportunities for larger scale projects in the South Bay, infill projects such as this will continue to supply homebuyer demand for new product in a mostly built out marketplace.”
The Los Angeles Urban Infill Land Team at Land Advisors Organization consisting of Chris Gomez-Ortigoza and Tim Barden represented the buyer partnership and Karl Niehaus of CREI represented the seller in this transaction.