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9/18/19
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A home health-care agency paid $5.9 mil for a 20.6k sf office building in the western San Fernando Valley community of Woodland Hills in an owner/user buy. The building is located at 22141 Ventura Blvd, just south of the 101 Fwy and just west of Topanga Canyon Blvd.
The property, a three-story building constructed in 1987, features private balconies, a highly improved lobby and newer roof. It is situated within walking distance to numerous amenities along Ventura Blvd.
Scott Romick and Jay Rubin of Lee & Associates-LA North/Ventura represented the seller in the transaction. One of the members of the ownership group, Jones Plaza LLC, had occupied the building for its real estate investment business. According to Romick, when the ownership group decided to take advantage of today’s market to divest the property, Jones Plaza left a vacancy that was well suited for another owner-user buyer who could occupy the vacant space and benefit from the rental income generated by the other tenants in the building.
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