One company buys the land, hammers out the details to get permits then sells it to someone else who may or may not build what was approved.
The property — which includes both 484 Cannery Row, which is Oceanside; and 501 Cannery Row, which is on the other side of the street — is just over 3 acres of land. On May 4, 2015, Altman Brothers, a luxury real estate agency based in Beverly Hills, put a listing online. Brittany Clark, with Altman Brothers, said the $20 million buy is already generating $400,000 annually for a parking lot on the 501 Cannery Row side of the street.
