Ron Feder of RJ Feder & Associates Completes Major Ground Lease for Strategic Development in Chatsworth, CA
Rendering of future facility at 9134 De Soto Avenue (courtesy Robert Scott / James Goodman Architecture)
The property, formerly home to an LA Fitness facility, was left as an uncompleted shell during the pandemic after their intended renovation was halted. The structure was ultimately demolished, and the site was prepared for future development by filling in the pool and clearing the remaining structures. In response to growing interest from potential developers, ownership decided to offer the land for lease.
“We are excited to announce this key partnership with Homestead Capital Group, a well-established player in the area with a proven track record of successful developments,” said Ron Feder. “The ground lease will enable Homestead 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 Capital Group, known for their recent development of a 7-Eleven and a self-storage project across the street, will spearhead the $25 million development, which is expected to bring substantial growth to the surrounding area. With the project’s scope and the potential for future expansion, this agreement represents a significant step forward in revitalizing the site.
“This ground lease will not only drive economic development but also increase the value of the surrounding properties,” added Feder. “We look forward to watching the project unfold and contributing to the continued growth of this thriving community.”
For more information on this transaction or upcoming projects by RJ Feder & Associates, please contact: rfeder@rjfeder.com.
Ron Feder
RJ Feder & Associates / Peak Commercial
+1 818-222-0404
rfeder@rjfeder.com
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