January 15, 2016
The culmination of 41 years of individual ownership has ended at Warner Plaza in Woodland Hills. Plaza International, a private investor that acquired the land in 1972 and developed the shopping center, has reportedly divested the approximately 115,000-square-foot property.
Sources say ROIC Warner Plaza, LLC. purchased the complex for $76.3-million. Savills Studley’s Bill Bauman and Kyle Miller represented both the buyer and seller in the off-market transaction.
Warner Plaza is in a nearly “irreplaceable” location at 21841 Ventura Blvd., just east of Topanga Canyon and Ventura Boulevards, and adjacent to the 101 Freeway. The property is at the nexus of some of the most well-traveled streets and freeways in the San Fernando Valley.
Sprouts Farmers Market anchors the shopping center, which is also home to such notable tenants as Coffee Bean & Tea Leaf, Dickies BBQ, and Jerry’s Famous Deli.