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September 17, 2019
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LOS ANGELES COUNTY NEWS
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Warner Center Office Tower to Undergo $50 Mil Makeover

5/01/19

An extensive revamp of Warner Landmark, a 12-story office tower located at 21555 Oxnard St in the heart of Woodland Hills, is expected to start in January 2020. The project is being undertaken by the property’s private ownership in a development partnership with Lincoln Property Company’s LPC West division.

Work on the AC Martin-designed building will kick off when the lease of current tenant, Anthem Blue Cross, expires Jan 1 and the health insurance provider moves out. Renovations are expected to be completed by mid-next year.

CBRE’s Matthew Heyn, Jeff Pion and team will be marketing the space for lease to new tenants, both within the area and from a broader geography. Heyn points out that the location is a great opportunity for local tenants in need of space, but is also a fantastic chance for outsiders looking to avoid the steep price tags in Santa Monica and other westside markets.

The property’s current ownership originally purchased the property in 1993. For this project, they hired renowned global architectural firm CallisonRTKL, which has been involved in such mega projects as LA Live, the Jakarta Four Seasons, City Crossing in Shenzen, China, the North Star Tower in Hunan, China, the Space Needle Plaza in Seattle, and the U.S. Capitol Visitor Center, among many others. The ownership also hired RELM Studio, a landscape architecture and urban design practice focused on urbanism, connectivity, and design.

The team plans to spend between $40 mil to $50 mil on the remodel. Changes will include creating a new entry at Owensmouth as well as recreating the approach to the building by removing the structure’s bastion elements and opening up the grand plaza to provide a spacious open-air feel for incoming retailers and food vendors.

The revamped property will provide ample parking, including below ground with direct elevator access to the floors. The site will also feature a state-of-the-art gym and conference center. Additionally, a new anchor tenant will have the opportunity for building signage.

The property’s ideal location in the bustling Warner Center area will make it a strong candidate for modern-day employers looking to provide state-of-the-art office space amidst abundant on- and off-campus amenities, extending into the weekend with farmer markets, a plethora of family events and more. The Warner Center area has been undergoing an extensive evolution as 2,280 residential units have been completed since 2008 with an additional 1,747 under construction and 10,299 planned, according to CBRE research.

In addition, Westfield has already invested heavily in the area, spending $350 mil on The Village at Westfield Topanga, which opened in late 2015. They’re also planning a massive $1.5 bil, 34-acre mixed-use development at the site of the current Warner Center‘s Promenade Mall. The project is titled Promenade 2035, a tip of the hat to the Warner Center 2035 plan approved by the City Planning Commission, which aims to accelerate the development of the area into a 24-7 environment.







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