July 23, 2010
San Diego, CA — GW Realty Co. successfully marketed and sold an approved Tentative Map consisting of 54 townhomes to City Ventures LLC. The development known as Pacific Walk is located in the City of Signal Hill, on the north side of Pacific Coast Highway at Orizaba Avenue. Pacific Walk was originally approved in 2006, but due to the economic downturn, Lorbeer Enterprises L.P. (seller) decided not to move forward with the project at that time. Lorbeer Enterprises L.P. held the property until the market showed signs of recovery, and then engaged GW Realty Co. to thoroughly market the site to the development community. City Ventures LLC intends to finalize the remaining entitlement issues and break ground later this year.
GW Realty Co. represented Lorbeer Enterprises L.P. as the listing broker. For additional information regarding this transaction or to learn about other development opportunities, please contact GW Realty Co. at (858) 622-7171.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California. With over $2 Billion in closed transactions since 1993, GW Realty Co. is widely recognized among the leading residential land brokerage firms throughout all of the California submarkets. Additionally, GW Realty Co. is proud to have a successful working partnership with Chaparral Land Company located in Newbury Park, CA.