22 Aug 2014
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This Empty Building Is Part of $8.9 Million Price Tag in Arts District

What appeared to be a lonely and vacant office building turned out to be a piece of much bigger lot up for sale.

This Empty Building Is Part of $8.9 Million Price Tag in Arts District

One of our Patch readers asked us to look into what's going on with a vacant office building at 11300 Weddington Street that has a broken clock on the roof.

The property shares an intersection with Bakman Avenue, where musicians perform and various arts and crafts activities are offered every weekend during the North Hollywood Farmers Market.

After doing some digging, I found that the structure, situated one block west of Lankershim Boulevard in the NoHo Arts District, is part of an $8.9 million lot comprised of three parcels now for sale on the commercial real estate market.

The three pieces of land total 93,460 square feet and will not be sold piece by piece, said Laurie Lustig-Bower, an executive vice president with CB Richard Ellis.

And the previously mentioned office building on Weddington, built in 1965, is not the only vacant unit. Most of the standing structures, like another office at 11313 Weddington Street and 5258 Tujunga Ave., are empty, according to a brochure from the commercial real estate firm. Several parking lots are also scattered throughout.

Maximilian's Restaurant at 11330 Weddington Street is the only business in operation.

While there aren't any takers yet, Lustig-Bower said she is in talks with a few interested parties.

The brochure advertises the parcels as the potential site for 122 new residences, but the acreage's future remains uncertain until someone signs the dotted line.

Check out the accompanying brochure for more information about the parcels.

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