Cushman & Wakefield advises land sale in Harbor City valued at $12 million
LOS ANGELES, Calif. – January 7, 2025 – Cushman & Wakefield announced the firm has arranged the sale of a ±4.95 acres of vacant land in Harbor City (Los Angeles), California. Located at 23903 Normandie Ave in LA’s South Bay submarket, the site is currently undeveloped and was acquired by the City of Los Angeles for $12 million. The city plans to install a new clean energy electric bus charging facility on the site for the Los Angeles Department of Transportation (“LADOT”). The seller was Brea Canon Oil Company.
LADOT leads transportation planning, project delivery, and operations in the City of Los Angeles. LADOT is made up of over 1,300 civil servants, including 600 traffic officers. LADOT manages 52 different transportation services for the region — from parking management to safety improvements to permits for private mobility operators.
Cushman & Wakefield’s Jeffrey Morgan, Executive Director represented the seller in the transaction. “The sale of this property marks a win-win scenario for all parties as well as for the greater Los Angeles community and its transportation services network and ridership. The new facility will also assist in the state’s effort for a cleaner and more sustainable environment,” said Morgan.
The property is currently zoned LAMR1 and LAMR2 and has been completed graded and compacted by the seller. The property is also fully fenced and has access to all utilities.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
