Marcus & Millichap Inc.
06/22/2026 | Press release | Distributed by Public on 06/22/2026 16:27
Marcus & Millichap Arranges $5.125M Sale of El Torito Restaurant Property in Woodland Hills, California
Press Releases
Marcus & Millichap Arranges $5.125M Sale of El Torito Restaurant Property in Woodland Hills, California
June 22, 2026
LinkedIn Email App
WOODLAND HILLS, Calif., June 22, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 6040 Canoga Ave., a freestanding single tenant restaurant building leased to El Torito in Woodland Hills, California. The property sold for $5.125 million.
"The sale generated significant interest from the investment community and resulted in a highly competitive bidding process involving multiple qualified buyers," said Brandon Michaels, executive managing director investments. "What made this transaction particularly noteworthy was the depth of investor demand despite the property's approaching lease expiration. Buyers were attracted to the property's strong underlying real estate fundamentals, its location within the heart of Warner Center, and the significant public and private investment continuing to transform the surrounding area."
Michaels, leader of the Brandon Michaels Group and investment specialist in Marcus & Millichap's Encino office, exclusively marketed the property on behalf of the seller, Kia Canoga Warner LLC, and procured the buyer, a private investor.
Built in 1978, the approximately 10,000-square-foot building is situated on a 0.72-acre parcel just north of the intersection of Canoga Ave. and Oxnard St. in the heart of Warner Center. The property is located directly across from the former Westfield Promenade redevelopment site and adjacent to the Anthem Blue Cross office tower. The surrounding area is undergoing a transformative mixed-use redevelopment that is expected to include the future Los Angeles Rams headquarters and practice facility, residential housing, hospitality uses, office space, entertainment venues and other commercial development.
"Investors increasingly recognize that assets positioned within major urban infill redevelopment corridors can offer value beyond the existing lease," added Michaels. "This property's location within Warner Center, one of Southern California's most active redevelopment markets, coupled with its strong visibility and underlying real estate fundamentals, created a compelling investment opportunity that attracted substantial buyer interest."
"The sale generated significant interest from the investment community and resulted in a highly competitive bidding process involving multiple qualified buyers," said Brandon Michaels, executive managing director investments. "What made this transaction particularly noteworthy was the depth of investor demand despite the property's approaching lease expiration. Buyers were attracted to the property's strong underlying real estate fundamentals, its location within the heart of Warner Center, and the significant public and private investment continuing to transform the surrounding area."
Michaels, leader of the Brandon Michaels Group and investment specialist in Marcus & Millichap's Encino office, exclusively marketed the property on behalf of the seller, Kia Canoga Warner LLC, and procured the buyer, a private investor.
Built in 1978, the approximately 10,000-square-foot building is situated on a 0.72-acre parcel just north of the intersection of Canoga Ave. and Oxnard St. in the heart of Warner Center. The property is located directly across from the former Westfield Promenade redevelopment site and adjacent to the Anthem Blue Cross office tower. The surrounding area is undergoing a transformative mixed-use redevelopment that is expected to include the future Los Angeles Rams headquarters and practice facility, residential housing, hospitality uses, office space, entertainment venues and other commercial development.
"Investors increasingly recognize that assets positioned within major urban infill redevelopment corridors can offer value beyond the existing lease," added Michaels. "This property's location within Warner Center, one of Southern California's most active redevelopment markets, coupled with its strong visibility and underlying real estate fundamentals, created a compelling investment opportunity that attracted substantial buyer interest."
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on June 22, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 22, 2026 at 22:27 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]