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6/02/22
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A 40.6k sf development site adjacent the new SoFi Stadium in Inglewood sold for $10.99 mil, or $270/sf.
The site, surrounded by several new sports and entertainment-themed projects, is a prime candidate for redevelopment as a hotel or mixed-use venue. Located at 619 S. Prairie Ave, the property is next to SoFi Stadium along Prairie Ave and near Kia Forum, the future Clippers arena, and the Hollywood Park mixed-use campus.
Simon Mattox, Austin Wolitarsky, Dan Riley, Bill Durslag and Kyle Woods with CBRE represented the seller, White & Day Inc. Mike McKinney and Nancy Bush of Lyon Stahl Investment Real Estate also served on the listing team. The buyer was Lavissani, LLS.
The official decision to build the new stadium in Inglewood was announced in January 2016. Since that time, the Hollywood Park submarket has seen burgeoning growth across a series of entertainment, hospitality, multifamily and mixed-use development projects.
As of spring 2021, more than 900 multifamily units are under construction within a two-mile radius of the site, according to CBRE research. In addition, 920 multifamily units and three hotel developments are planned, proposed or under review.
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