Selleck Development Group Inc.
Specialty: Retail Developer
Recent Deals: Developing 360,000 square feet of retail space on site of former General Motors auto plant in Van Nuys.
Though Dan Selleck has been developing retail space most of his working life, his latest project is the one that really caught the public’s attention.
The reason it’s so special? The future of a community may be on the line.
Selleck is leading the team working to redevelop the site of the former General Motors assembly plant in Van Nuys that closed in 1992. The site is close to the home where Selleck was born and raised and where his parents still live. In fact, Selleck remembers taking a tour of the plant during a sixth grade field trip.
“The retail development could really rejuvenate that area of the San Fernando Valley and replace a lot of the jobs lost with the GM plant,” Selleck said.
He estimates that his project, along with the industrial development planned for the remaining acreage on the site, could bring 2,000 jobs to an area badly battered by crime.
Selleck’s development will take up the 36-acre western portion of the 68 acre property (on the 8000 block of Van Nuys Boulevard).
After two-and-a-half years, Selleck says the development is finally getting real. It received government approval and completion is set for this time next year.
Selleck has been developing and rehabilitating retail properties for more than a decade, including a six-year period when he and his two older brothers (one of whom is actor Tom Selleck) owned Selleck Properties, developing shopping centers throughout California.
The family partnership was a logical one, says Selleck, given their father’s long-time interest in California real estate. Because Selleck’s father was employed by Coldwell Banker for 35 years, Selleck “grew up talking about real estate at the dinner table and learned a lot through osmosis.”
Selleck Properties was eventually dissolved when the economy picked up, the deals got bigger, and Tom, the primary investor, was no longer interested in investing. The decision to split was amicable, though, and the brothers still regularly get together, said Selleck.
In 1996, Selleck ventured on his own, founding Selleck Development Group Inc.
Lisa Steen Proctor