LOS ANGELES—IMT Capital and its affiliate IMT Residential has acquired the former Sunkist building here.

Constructed in 1971 and located at 14130 Riverside Drive, this property served as Sunkist Growers Inc. headquarters for over 41 years. Founded in 1893, Sunkist is a cooperative of family growers and is one of the world's oldest and largest citrus marketing cooperatives. The property is situated on 8.5 acres adjacent to the 101 Ventura Freeway and Westfield Fashion Square Mall in the Sherman Oaks neighborhood of Los Angeles.

The multitenant building is has low vacancy, said the buyers. The company intends to develop the remainder of the large infill property with a mixed-use project containing multifamily and retail components while preserving the original offices.

"The Sunkist property is unique in the market and represents a great opportunity for creative placemaking that will complement and serve the Sherman Oaks neighborhood," said David Tedesco, principal of IMT Capital. "Our talented development team looks forward to working on this project with the community and to conserve this iconic building for future generations."