August 12, 2019
Optimus Properties, LLC acquired Tarzana Tower, a Class A office/medical building at 18321 Ventura Blvd. in Tarzana, CA, for $22 million. The seller was undisclosed.
The 10-story, multi-tenant office/medical building is situated on more than an acre of land adjacent to the Providence Tarzana Medical Center, and consists of 84,780 rentable square feet. It is the tallest building in the area with high identity visibility, making it a rare acquisition opportunity in a supply-constrained office market.
Kidder Mathews’ Janet Neman represented the buyer.
“This was an off-market deal with significant value-add potential,” said Neman. “Approximately 37,000 square feet of the building is permitted for medical use, and my clients plan to reposition this asset. The partnership of Providence and Cedars-Sinai will expand healthcare in the San Fernando Valley, and Tarzana Tower will be ideally-positioned to accommodate the area’s medical users.”
For comments, questions or concerns, please contact Dennis Kaiser