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November 28, 2023
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San Fernando Valley


We've heard that Santa Monica-based M. David Paul is looking to sell its entire Burbank office portfolio, containing around 1.68 msf of Class A space in and around this popular entertainment industry hot spot. The listing consists of: the four-building, 1.2 msf Media Studios North low-rise, 19-acre complex at 3100 Thornton Ave, 2233 N. Ontario St, 2255 N. Ontario St and 3333 Empire Ave; the 250k sf Central Park office building at 3500 W. Olive Ave; and the 235k sf second phase of the Pinnacle office project completed in 2003 at 3300 W. Olive Ave. The buildings at the Media Studios North complex are all between three and five stories, with three of them being built new in the past few years or so and one building (on Thornton) being a renovation of an older facility. The 15-story brick-clad Central Park building was constructed in 1985. From what we've heard, Secured Capital will be marketing the buildings, which are expected to fetch near $400/sf, putting the total take to M. David Paul at around $670 mil. 2/06

In West Hills, the DeVry University campus located at 22801 Roscoe Blvd is being marketed for sale. The building consists of 106.2k sf of Class A space situated on roughly 20.46 acres of land in the northwest corner of the San Fernando Valley. It is easily accessible from the 101 and 118 freeways, offers spectacular views of the Santa Susana Mountains, and is within close proximity to residential housing and an abundance of recreational facilities. It is part of an 80-acre site that was first used for research and development in 1958 after it was purchased and developed by an electronics firm owned by Thompson Ramo Woolridge (Bunker-Ramo).It was bought by Hughes Aircraft in 1996, which used it for its Missile Systems Operations. Hughes divided the property in the mid-1990s and sold the northern 30-acre parcel to Regent Properties, which later developed the 590k sf West Hills Corporate Village on the property. Later on, Coast Federal Bank purchased 50 acres of the property and further divided it into parcels that are now owned by DeVry University, the City of Los Angeles and Kennedy Associates/Trammell Crow Company. The property is being listed by Matt Hargrove and Ray Howden of Cushman & Wakefield and does not have an asking price. 2/06

In Woodland Hills, a 30k sf office building at 5901 De Soto Ave, within Warner Center Business Park, is listed for sale with an asking price of $9.95 mil ($331/sf). The property, which is leased to until July 2010, was built in 1978 and sits on 2.15 acres. It features convenient drive-up parking and frontage on both Califa Ave and De Soto Blvd. The listing is being handled by Mark Perry and Carlene O'Neil of CB Richard Ellis. 2/06

In Sylmar, Peter Yousefi of Grubb & Ellis is marketing Lakeview Professional Center, a 38k sf medical office building on 3.32 acres of land. The property is located just off the 210 Fwy, a few miles east of the 118 Fwy and 210 Fwy intersection. It is between the city of San Fernando and the communities of Van Nuys, Lakeview Terrace, Sunland and Tujunga. The property is being marketed as a strong redevelopment opportunity, priced at $31/sf for the land. It could be used for residential, office, church or other uses. The price tag is $4.5 mil. 2/06

Here's a vacant 48.4k sf owner-user office building at 9221 Corbin Ave in Northridge. The two-story building is situated within close proximity of Northridge Fashion Center and is part of a corporate business campus near the 101 and 118 freeways. It is being marketed by Bennett Robinson and Nancy Stark of CB Richard Ellis, who are asking about $6 mil ($124/sf) for the asset. 2/06

In Mission Hills, a 13.7k sf office building at 10630 Sepulveda Blvd is offered at a price of $3 mil ($219/sf). The building was completely renovated in 1999 with new mechanical, electrical and plumbing. Marc Spellman of Lee & Associates has the listing. 2/06


In Chatsworth, there are a number of buildings available at a new industrial project called Chatsworth Business Centre. The buildings range in size between 17.4k sf and 22.5k sf, and are located at 19835-19879 Nordhoff St, with major frontage on Nordhoff. The two-story facilities offer 17% office space, two grade-level doors and a parking ratio of 2/1,000. They are listed with Bennett Robinson of CB Richard Ellis. 1/06

In Van Nuys, the CB Richard Ellis team of Matt Dierckman, David Harding and Greg Geraci are shopping a 20.4k sf distribution building at 13704 Saticoy St. It features well-appointed offices, 90% air-conditioning, a full-service kitchen, one grade-level door and a fenced yard. The asking price is $3.16 mil ($155/sf). 2/06

Here's a nearby Van Nuys listing, that being an 8.2k sf building at 13915-13917 Saticoy St, which has an asking price of $2.2 mil ($268/sf). The building is currently leased to the State of California through October of this year and comes with excess land. There is actually two separate parcels, of 14.8k sf and 12.9k sf, which allow for expansion. Ron Feder of Lee & Associates has the listing. 2/06

In Panorama City, a 50k sf concrete tilt-up building with 3.7k sf office space at 14660 Arminta St in available for a price of $3.9 mil. It is occupied by a single-tenant on a 10-year NNN lease. For more info, get with Aditi McCann of CB Richard Ellis. 2/06

In Van Nuys, CB's Matt Dierckman and David Harding are also listing a 6.4k sf distribution facility at 8329 De Celis Place. Priced at $1.34 mil ($210/sf), the property was built in 1981 and features 1.2k sf of cooler space, 250 sf of freezer space and floor drains throughout. There are also three grade-level doors and 20" clearance. 2/06

In Canoga Park, an 8.7k sf facility on an 81k sf lot at 8039 Canoga Ave is listed for $3.2 mil ($368/sf). Built in 1965, the one-story building rail lot can be used for truck repair or storage. The listing is with Dennis Marciniak of GVA DAUM. 2/06

Also in Canoga Park, Jack Mikali of NAI Capital Commercial is shopping a vacant 21.6k sf manufacturing building at 8000 Deering Ave. Built in 1962, it sits on a 71.4k sf lot and offers two dock-high doors, two grade-level doors, 16' clear height and an oversized lot. It is being offered for $3.5 mil, or about $162/sf. 2/06

Bennett Robinson of CB Richard Ellis also has a Canoga Park listing, for a 66.7k f warehouse building at 21530 Roscoe Blvd. Built in 1984, it sits on a 116.3k sf lot and includes 59% office space, seven grade-level doors, one dock-high door heating/air and a fenced yard. Located one block west of the corner of Canoga and Roscoe Blvds, the property has an asking price of $8.6 mil ($129/sf). 2/06

In North Hollywood, a 10.6k sf building at 7325 Atoll Ave is on the market with a price tag of $1.75 mil ($69/sf). The facility has full A/C, heavy power and well-appointed offices. It is situated near the 170 Fwy. Steve Scott of Lee & Associates has the listing. 2/06

Also in North Hollywood, Todd Lorber of Grubb & Ellis is marketing a 48k sf warehouse building on a 2.21-acre site and 12550 S. Saticoy St. Built in 1972, the property includes one grade-level door, four dock-high doors and 22' clearance. The asking price is $5.28 mil ($110/sf). 2/06

In Burbank, a 19.4k sf industrial building at 2501 N. Ontario St has been listed with Brett Warner of Lee & Associates. This multi-purpose building was fully remodeled in 1998 and includes a fenced yard and heavy power. The price is $3 mil ($155/sf). 2/06

A smaller Burbank offering is this little 450 sf building at 4212 W. Burbank Blvd, which has an asking price of $499k ($1108/sf). This rare building offers main street visibility, a small fenced yard and is alley-served. It is also offered for lease at $2,500/mo. Talk to Todd Snyder of Lee & Associates for more information. 2/06

In Chatsworth, a 21.8k sf building on a 45.3k sf lot at 8943 Oso Ave has been put on the market at a price of $3.28 mil ($150/sf). The one-story building was constructed in 1978 and features 15% of office space, four grade-level doors and a 2/1,000 parking ratio. The entire property offers controlled access and 13' Clear height. Interested parties should get with Timothy Foutz of NAI Capital Commercial. 2/06

Also in Chatsworth, a 21.6k sf industrial facility at 9600 Topanga Canyon Blvd is on the market with an asking price of $4.26 mil ($198/sf). The high-profile flex building offers excellent clearance, a fenced yard and expandable cell site income. Brokering the property is Joe Jusko of Lee & Associates. 2/06

Here's one more Chatsworth listing, a 27.3k sf warehouse building at 20750 Lassen St that is being marketed by Bennett Robinson of CB Richard Ellis. The one-story facility includes 32% office space, one grade-level door, two dock-high doors and 16" clearance. It is listed for $4.14 mil ($152/sf). 2/06

In a Sun Valley listing, Gary Kreft of Grubb & Ellis is marketing a 7.9k sf building at 8073-8077 San Fernando Rd. Built in 1990, the facility sits on .34 acres and is fully occupied. Located near the Burbank Airport, it features two grade-level doors, 14' clearance and 600 sf office space. The asking price is $1.45 mil ($183/sf). 2/06

Also in Sun Valley, Chad Gahr and David Young of NAI Capital Commercial are marketing Phase III of Burbank Airport Commerce Center, a new multi-building industrial business park. Typical buildings are like a 30.3k sf facility at 7651 San Fernando Rd. It features two dock-high doors, one grade-level door and 24' clear height. The asking price is $4.39 mil, or about $145/sf. 2/06

In the city of San Fernando, an 11.2k sf vacant warehouse building at 535 4th St is being marketed with an asking price of $1.5 mil ($135/sf). Built in 1963, it is located in a business park environment and includes two grade-level doors. Talk to David Young or Chad Gahr of NAI Capital Commercial for more information. 2/06


In Van Nuys, Daniel Riley of CB Richard Ellis is shopping this 13k sf neighborhood shopping center on a 37k sf lot at 7221 and 7239 Van Nuys Blvd. It is part of a 55.6k sf center anchored by Albertson's, along with a Sav-On and a Starbuck's. Built in 1999, it is fully occupied and is offered for $7.1 mil ($546/sf). 2/06

Also in Van Nuys, a one-story retail building on a 24.6k sf lot at 5353-5355 Van Nuys Blvd is being marketed as an ideal opportunity for a passive investor, as all maintenance and management of the building is the responsibility of the tenant, Miller Honda. It is located at the signalized southwest corner of Van Nuys and Clark St, close to the 101 and 405 freeways. The property is listed with David Ghermezian and David Lachoff of Grubb & Ellis. For more info, like the size and price, get with the brokers. 2/06

Here's another Van Nuys listing, a 5.3k sf free-standing building at 6750 Hazeltine Ave. Built in 1969/73, the building is on a 9k sf lot on a busy street, near Vanowen. It will be delivered vacant. Bob Tull of NAI Capital Commercial has the listing, which has an asking price of $1.25 mil ($235/sf). 2/06

In Northridge, a 45k sf free-standing single-tenant building at 8700 Tampa Ave is listed for $16.42 mil ($365/sf). The property is NNN leased to Sportmart and is at the corner of Tampa and Parthenia. This first-rate investment was constructed in 1994 and is being marketed by Phil Voorhees and Patrick Toomey of CB Richard Ellis. 2/06


In North Hollywood, the Vanowen Apartments, a 24-unit complex on .51 acres at 11903-11913 Vanowen St, is being marketed for sale at a price of $2.8 mil, or about $117k/unit. The asset consists of three eight-unit buildings on three separate parcels, with 12 two-bedroom/one-bath units and 12 one-bedroom/one-bath units. There are on-site laundry facilities and rents are currently 23% below market. The property is located between Lankershim and Laurel Canyon Blvd, close to restaurants and the 170 Fwy. For questions, get with Ian Couwenberg of CB Richard Ellis. 2/06

In Studio City, a 63.4k sf double lot is being marketed as a condo development opportunity for a 77-unit development at 11154-11158 Aqua Vista St. The existing improvements consist of 21-unit and 23-unit apartment buildings. Zoned R3-1, the site is near numerous entertainment-related employment centers and offers easy access to West LA via Laurel Canyon and Coldwater Canyon Blvds. For more information, contact Laurie Lustig-Bower of CB Richard Ellis, who is quoting an asking price of $11.2 mil. 2/06

CB's Lusting-Bower is marketing another Valley condo development site, that being an 83.2k sf lot at 18339-47 Collins St in Tarzana. Covering almost two acres of land, the potential development could hold around 107 units. The site is close to numerous dining and shopping amenities along Ventura Blvd, and is also close to the 405 and 101 freeways. The asking price is $15.9 mil, or about $191/sf. 2/06

Here's a residential development site in Sun Valley, that being a 21.1k sf lot at 9080 Laurel Canyon Blvd. The land is near I-5 off the Sheldon Street exit. The property is listed with Gregory Barsamian of CB Richard Ellis at a price of $890k ($42/sf). 2/06

In Sylmar, a four-unit, two-story apartment building at 14818 Astoria St is on the market for $1 mil, or about $250k/unit. Built in 1987, the property contains two three-bedroom/two-bath units and two two-bedroom/two-bath units each with around 1k sf of space. It includes security gating, landscaped grounds and carport parking. It is being marketed as a possible condo conversion or an ideal investment for an owner/user. Delonne Valens and Yair Haimoff of NAI Capital Commercial have the listing. 2/06

In Studio City, a 22-unit garden-style complex at 13112 Valleyheart Dr is on the market with an asking price of $8.75 mil ($398k/unit). The property is in a quiet neighborhood and features all two-bedroom/two-bath units with 45 parking spaces. Built in 1987, it is a quick walk to Ventura Blvd. Talk to George Issaians of CB Richard Ellis to learn more about this property. 2/06

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