Pacific Palisades Development Site Fetches $5 Mil

A 36.9K sf development site in Pacific Palisades sold for $4.9 mil. The property is located at 15201 Bestor Blvd., east of Temescal Canyon Rd. and north of Sunset Blvd.

The land is zoned R-1 and may be suitable for multiple single family homes or a large estate home. It is also the site of 10.2K sf church building once occupied by the Thirty Seventh Church of Christ, Scientist. The property was also marketed to religious organizations.

Clark and William Everitt, Vice Presidents at IREA represented the buyer, Bestor Boulevard LLC. Dennis Herzig, Senior Associate at IREA was on the listing team.

(Originally reported by RenTV March 17, 2011)