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4/27/21
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Warner Center Business Park, a 53.2k sf, multi-tenant office property in Woodland Hills, sold to a private local investor for $13.4 mil ($252/sf).
Originally built in 1977, the two-story building sits on a 2.94-acre site at 5955 De Soto Ave. It was 93.2% leased at the time of sale and features 200 parking spaces.
Warner Center Business Park sits at the corner of De Soto Ave and Oxnard St, two of the major thoroughfares in Woodland Hills, and is within walking distance to the retail and lifestyle center The Village at Westfield Topanga. Warner Center Business Park is one mile from U.S. 101, a major freeway connecting Woodland Hills to the rest of Los Angeles.
Fred Aframian and Ryan Lin of CBRE represented the buyer in the transaction. The seller, a private investor, was represented by an outside firm.
“Warner Center Business Park is a suburban low-rise office property that has experienced strong demand from tenants throughout the pandemic,” said Aframian. “All the tenants have stayed at the property.”
Lin added, “Warner Center is known as the ‘Downtown’ of the San Fernando Valley and is undergoing a massive wave of infill redevelopment, including the addition of nearly 18,000 additional housing units and 15 msf of commercial space. All of this development is within a connected, walkable, transit-served urban setting that promotes job concentration and economic growth.”
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