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Friday, May 23, 2025

2025 Commercial Real Estate Awards: Best Land Lease of the Year

BEST LAND LEASE DEAL OF THE YEAR
9143 De Soto Ave., ChatsworthSquare Footage: 79,741

The property, formerly home to an LA Fitness facility, was left as an uncompleted shell during the pandemic after an intended renovation was halted. The structure was ultimately demolished, and the site was prepared for future development. In response to growing interest from potential developers, ownership decided to offer the land for lease. The ground lease will enable Homestead Capital Group to transform this property into a state-of-the-art self-storage facility, adding approximately 110,000 square feet of new space across four buildings. Homestead will spearhead the $25 million development, which is expected to bring substantial growth to the surrounding area.


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