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7/21/20
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B. Riley Financial signed a 10-year lease for 18k sf of office space in Westlake Village. The deal is at 30870 Russell Ranch Rd, a Class A building on the north side of the 101 Fwy just east of Lindero Canyon Rd. It is owned by BentallGreenOak.
The building features steel frame construction and an onsite fitness facility, with freeway frontage and signage. It is located near several walkable retail amenities.
CBRE’s Matthew Heyn represented the tenant, who is relocating from Woodland Hills. BentallGreenOak was repped by an outside broker. According to Heyn, they started the process pre-COVID and ended up signing it during the pandemic.
The COVID-19 pandemic has had a profound impact on the national and regional economies, but CBRE Econometric Advisors (CBRE EA) is projecting a robust recovery beginning in 2021, with office markets projected to fully recover by Q4 2021.
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