Kidder Mathews has completed the $7.1 million sale of 860 Vía De La Paz, an approximately 15,000-square-foot development site in Pacific Palisades, California. The all-cash transaction closed in just two weeks at a price of approximately $473 per square foot, establishing a new pricing benchmark for commercial land in the area. Kidder Mathews Executive Vice President Janet Neman and Associate Vice President Angelica Gotzev represented the seller, Optimus Properties, and generated multiple offers through a competitive marketing process.
The property previously included roughly 35,000 square feet of office and retail space before the structure was destroyed in the January 2025 Palisades fires. The site has since been cleared and offers a future redevelopment opportunity in the heart of Pacific Palisades.
Optimus Properties elected to sell the site as part of a broader decision to redeploy capital amid an increasingly challenging business and regulatory environment in the City of Los Angeles.
“The combination of record-setting pricing, multiple offers, and an expedited all-cash closing reflects the continued demand for investment and development opportunities in Pacific Palisades,” said Neman. “The transaction comes at a pivotal time for the community as rebuilding efforts gain momentum and owners, residents, and investors look toward the area’s next chapter.”
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Nevada, Arizona, and Texas. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages 55 million square feet of space, and conducts nearly 2,700 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
