Westlake lot selfor $27 million

Lee & Associates, a commercial real estate broker, announced the sale of a 27-acre parcel of vacant land located between Village Glen and Lakeview Canyon Road in Westlake Village for $27 million.

Doug Humphrey, senior vice president in Lee & Associates’ Calabasas office, advised the buyers, Steadfast Business Properties and Amstar Group. Mike Foxworthy of GVA Daum represented the seller, Canyon Mesa, Inc.

Humphrey said the buyers plan on developing a 482,000square-foot office complex consisting of eight buildings.