70 acres of developable land up for grabs in Malibu

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Late entertainment industry mogul and longtime Univision CEO Jerry Perenchio’s massive Bel Air estate (seen on The Beverly Hillbillies) is still the most expensive home for sale in Los Angeles, but a portfolio of newly listed properties in Malibu may be just as impressive.

Combined, the eight parcels of residential and commercial land comprise over 70 acres of prime real estate in one of the nation’s most expensive real estate markets.

Mark Sullivan and Bill Bauman, of Savills Studley, and Mauricio Umansky and Billy Rose, of The Agency, are representing Perenchio’s family and expect the properties to fetch around $150 million combined.

Sullivan predicts the sale will be “one of the most important transactions in Malibu’s history,” offering potential buyers the opportunity to “play a tremendous role in shaping the city’s future.”

Perenchio, who died earlier this year, purchased the properties over 30 years ago. They include:

  • A nearly 19-acre lot near Point Dume billed as the largest commercial development site in the beachside town
  • A 3.5-acre residential parcel right next to Perenchio’s former golf course (willed to the city after his death)
  • 1.82 acres on exclusive Broad Beach, zoned for residential development
  • Roughly 25 acres of residential land near Trancas Canyon
  • 4.4 acres above the pricey Malibu Colony neighborhood
  • A total of 18 acres on three separate lots surrounding Legacy Park

The properties are being sold as a package deal and a listing price has not been set.

Meanwhile, Perenchio’s former Malibu Colony beach house sold last month for $6.8 million, reports the Los Angeles Times.

View of vacant land
Land facing PCHLand facing PCH
Land next to golf courseLand next to golf course

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