Calabasas-based Marcus & Millichap Inc. last week brokered the sale of a Sherman Oaks retail site containing a Burlington Coat Factory for approximately $11.23 million.

Located at 14651 Ventura Blvd., the 27-year-old property spans across 24,890 square feet and sits on a nearly 1-acre parcel in central Sherman Oaks, granting easy access to Sherman Oaks Galleria and Westfield Fashion Square. Santa Monica-based SRS Real Estate Partners represented the seller.

Locally owned and run, the store will be in the hands of an undisclosed local private investor.

“Sherman Oaks remains a highly sought-after retail market due to its strong demographics, established consumer base and strategic location within the San Fernando Valley,” said Lior Regenstreif, executive managing director of investments for the company who procured the buyer from his Encino office. “The property’s single-tenant net-leased structure and prominent Ventura Boulevard location made it an attractive investment opportunity.”

Buying spree

The deal continues the North American conglomerate’s streak of procuring buyers for high-stakes premium real estate across L.A. County.

On June 5, it sold The Versailles Apartments in Beverly Grove – a five-story, 78-unit multifamily property – for $47 million, or $602,564 per unit. Just two months ago, the Azzi Group under its wing closed two multifamily properties in Brentwood for a combined $46.35 million. With 61 units in total, the sale broke the record for price per unit in the market. Last year, the company closed 8,818 deals with a sales volume of $50.8 billion.