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m a r c h 15 , 2021
COMMERCIAL
REAL ESTATE
AWARDS
PRESENTING SPONSORS
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18 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
AWARDS
Note From the Publisher
T
he San Fernando Valley Business Journal hosted the 2021 Commercial Real Estate Awards on March
3 on the Zoom platform. Our event recognized the region’s best and most impactful commercial real
estate projects that finished in 2020 as well as the Valley area’s high-achieving brokers.
As you can see on the following pages, the commercial brokers often had numerous challenges to
face. In the year of the COVID-19 pandemic, some deals fell apart and had to be reconstructed. Many
required big changes – sometimes property improvements were needed to appeal to different buyers, for
example. The awards acknowledge the brokers’ persistence, creativity and market insight.
The other award category – for projects – is always a favorite because new developments not only
improve our community, but new buildings also allow our local businesses to stay and grow in the Valley
area or allow outside businesses to move in. General contractors, developers and architects are given
awards for their inspired work.
Finally, I’d like to thank our sponsors, especially the presenting sponsors, the general contracting
firm of Parker Brown and Spectrum Commercial Real Estate. Thanks to their support, we can honor the
people and companies that are doing so much to improve our Valley area community.
Sincerely,
Charles Crumpley
Editor and Publisher
017-38_sfvbj_cre_postSUPP.indd 18 3/10/21 2:26 PM
MARCH 15, 2021 CUSTOM CONTENT – SAN FERNANDO VALLEY BUSINESS JOURNAL 19
LA NORTH/VENTURA
Congratulations
to our 2020 TOP PRODUCERS
BROKER
OF THE YEAR
SCOTT CASWELL
Industrial
818.444.4911
DRE #00853607
MIKE TINGUS BRETT WARNER GRANT FULKERSON, SIOR DARREN CASAMASSIMA
Industrial Industrial Industrial Office
818.223.4380 818.933.0302 818.449.4401 818.933.0303
DRE #01013724 DRE #00825581 DRE #01483890 DRE #01425638
WARREN BERZACK ERICA BALIN JARED SMITS BARRY SCHOENBRUN
Multifamily Industrial Office Investment
818.933.0350 818.444.4912 818.444.4986 818.444.4992
DRE #01329015 DRE #01481476 DRE #01839532 DRE #00827511
ASSOCIATE OF THE YEAR
PATRICK REDDY
GRANT HARRIS JOHN OCHOA Industrial
Industrial Industrial 818.933.0348
805.626.1212 805.626.1208 DRE #01901872
DRE #01029619 DRE #00986604
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20 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
2021 PROJECT HONOREES
AWARDS
BEST HOSPITALITY PROJECT GLENDALE MARRIOTT RESIDENCE INN
Location: 199 N. Louise Street; Glendale GOLD
Developer: R.D. Olson Development
General Contractor: R.D. Olson Construction
AWARD
Architect: WATG
G
lendale Marriott Residence Inn, a
145-room, mission-style hotel, caters
to tourists, business travelers and
those seeking long-term residential space.
Located at 199 N. Louise, the property is
near all the major film studios, Griffith
Park and Observatory, the Hollywood
Walk of Fame, Rose Bowl Stadium and
other prime areas of interest.
The building’s design was inspired by
a nearby 1845-era Baptist church, with
mission-style wood pilasters, finishes and
other architectural features that set it
apart from other select service offerings.
The 190,000-square-foot, five-story hotel
offers 120 studios, 12 corner suites, six
two-bedrooms and seven American
Disabilities Act-compliant rooms, all with
full kitchens. Amenities include a fully
equipped fitness center, courtyard deck
with pool and spa, large meeting room,
complimentary wi-fi, 24-hour market,
indoor and outdoor seating areas and two
levels of underground parking.
The design was made to the highest
standards of the California Green
Standards Code.
BEST OFFICE PROJECT 4130 CAHUENGA
Location: 4130 Cahuenga, Toluca Lake
Developer: Harbor Associates, LLC
GOLD
General Contractor: Pinnacle Contracting Corporation AWARD
Architect: Wolcott Architecture
S
ituated adjacent to Universal Studios
and minutes from Warner Bros, Disney
and CBS, 4130 Cahuenga by Harbor
Associates offers unbeatable access and
visibility to the media and entertainment
industry throughout Burbank, North
Hollywood, Studio City and Hollywood.
The project features high volume
space with natural light, access to outdoor
space and balconies. It also contains a
recently renovated building lobby, corridors
and indoor/outdoor and common areas.
Exterior façade renovations are underway
with enhanced visibility and signage.
The office project is minutes from
the Metro Red Line with direct access to
Union Station, and steps to Toluca Lake
and Lakeside Golf Club. The project also
offers a broad array of retail, shopping and
dining amenities as well as executive and
multi-family housing.
017-38_sfvbj_cre_postSUPP.indd 20 3/10/21 2:26 PM
MARCH 15, 2021 CUSTOM CONTENT – SAN FERNANDO VALLEY BUSINESS JOURNAL 21
SPECIALIZATION | EXPERTISE | RESULTS
CONGRATULATIONS TO OUR BROKERAGE PROFESSIONALS HONORED AT THE
2021 COMMERCIAL REAL ESTATE AWARDS
Marcus & Millichap proudly honors its top commercial real estate investment professionals in the Encino office who provided
superior service to clients by helping them meet their investment objectives despite major set backs in 2020. These market leaders
set the standard for dedication, expertise, and achievement in California. We look forward to being a part of your success in 2021.
REAL ESTATE INVESTMENT SALES | FINANCING | RESEARCH | ADVISORY
MARTIN AGNEW CHASE COHEN KLYVIA IHA SAM LIBEROW JEFF LOUKS
BROKER OF THE YEAR BEST OFFICE SALE BEST RETAIL SALE BROKER OF THE YEAR BROKER OF THE YEAR
BEST OFFICE SALE BEST MULTIFAMILY BEST MULTIFAMILY
BEST RETAIL SALE SALE SALE
LONNIE MCDERMOTT BRANDON MICHAELS JANETTE MONFARED FILIP NICULETE DAVID SCHATZ
BEST LAND SALE BROKER OF THE YEAR BROKER OF THE YEAR BROKER OF THE YEAR BEST INDUSTRIAL
BEST MULTIFAMILY SALE
SALE
GLEN SCHER RYAN SERLING BRAD WETHERBY
BROKER OF THE YEAR BROKER OF THE YEAR BEST OFFICE SALE
JIM MARKEL BEST MULTIFAMILY
SALE
BEST OFFICE SALE
BEST RETAIL SALE
Vice President
Regional Manager
Offices throughout the U.S. and Canada
O. 818.212.2796
C. jim.markel
@marcusmillichap.com www.marcusmillichap.com
019-46_sfvbj20210315_fullpages.indd 21 3/8/21 4:04 PM
22 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
2021 PROJECT HONOREES
AWARDS
BEST SUSTAINABLE PROJECT SWENSON SCIENCE CENTER
AT CALIFORNIA LUTHERAN UNIVERSITY
Location: 60 West Olsen Road, Thousand Oaks GOLD
Developer: California Lutheran University
General Contractor: W.E. O’Neil Construction Co. of California
AWARD
Architect: Rasmussen & Associates
T
he new $34 million Swenson Science Center on
the California Lutheran University Thousand
Oaks campus is an attractive and much needed
addition to the university. Completed in August
2020, it complements the existing architecture of
the Ahmanson Science Center, blending seamlessly
into the campus. Featuring a two-story glass main
entry lobby and second-story atrium, the glass front-
age brings in natural light.
The Swenson Science Center contains 11 teach-
ing labs and eight research labs to provide students
with modern facilities and collaborative workspaces.
Built at the center of campus, the 47,000-square-
foot building showcases cutting-edge technologies.
Targeted for LEED Silver certification, the new
science center has a variety of energy-saving tech-
nologies. A hybrid HVAC system combines VRF
(variable refrigerant flow) heating and cooling tech-
nology with outdoor units that pull fresh air into
the building using the latest heat exchanger tech-
nology. Actual hour-by-hour schedules for classes
and labs are part of this equation. They ensure that
the HVAC and the lights consume the minimum
energy possible.
EDUCATION SPOTLIGHT
ALIGN YOUR BUSINESS WITH OUR EXTENSIVE EDUCATION PORTFOLIO
The San Fernando Valley Business Journal provides
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GR A
SEPTEMBER 14, 2020 SAN FERNANDO VALLEY BUSINESS JOURNAL 15
EPO
MS
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COLLEGES AND UNIVERSITIES
guides for mid-career executives seeking continued
T
Rank Institution Enrollment 2018-2019 Degrees Faculty Profile Top Executive
• name • undergraduate • full-time • status • name
• address • total • undergraduate • total • part-time • year established • title
• graduate
education opportunities. Use these targeted issues to
• website • total employees • phone
National University 3001 NA NA NA private David Andrews
15 6300 Canoga Ave. NA NA NA 1971 President
A IN ES
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highlight your institution, programs offered, upcoming B
Phillips Education Center of Campbellsville University 2751 NA NA NA private Randy Christopher
16
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19900 Plummer St. NA NA NA 1971 Executive Director
Chatsworth 91311; pgu.edu NA (818) 386-5600
AN AEL TIM
University of La Verne San Fernando Valley Campus 2501 NA NA NA private Devorah Lieberman
ent 17
c ont 4001 W. Alameda Ave., Suite 300 NA NA NA 1891 President
information sessions, and enrollment deadlines!
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Burbank 91505; laverne.edu NA (818) 295-6500
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MARCH 15, 2021 CUSTOM CONTENT – SAN FERNANDO VALLEY BUSINESS JOURNAL 23
COMMERCIAL
REAL ESTATE
2021 PROJECT HONOREES
AWARDS
BEST REDEVELOPMENT PROJECT PLAZA DEL VALLE
Location: 8610 Van Nuys Boulevard, Panorama City GOLD
Developer: Agora Realty and Management Inc.
General Contractor: Agora Realty and Management Inc.
AWARD
Architect: Mycotoo
P
laza Del Valle is roughly a half-mile
long walkable street. In 2020 Agora
Realty and Management performed
a multi-million dollar upgrade which
included constructing multiple restaurants,
removing the existing trees and lining
the walkway with mature large shade
producing trees.
Working with five nationally known
artists, five large murals were painted to
create an outdoor art walk. Also installed
is a shade system for the property which
includes two massive 30-foot-each in
diameter Swiss-made umbrellas. Also
constructed was a new fountain.
Also created for the Plaza is a
food court with outdoor games and
entertainment, which includes a large
installation of a video wall.
The San Fernando Valley Business Journal is proud to present
Nomination deadline:
March 19th, 2021
our Women’s Council, honoring top businesswomen in the Valley
area. Join us for a virtual awards ceremony and enjoy a program
filled with inspiration and recognition as we honor women who
have made a difference throughout the San Fernando, Conejo, LIVE VIRTUAL AWARDS EVENT
Santa Clarita and Antelope Valley area. Award Categories: CEO of
the Year, Executive of the Year, Volunteer of the Year, Rising Star,
Not-For-Profit Leader, Business Owner of the Year and Lifetime
2021 Women’s Council
Achievement Award. Wednesday, April 28
To nominate or register, please visit sfvbj.com/bizevents
PRESENTING SPONSORS
017-38_sfvbj_cre_postSUPP.indd 23 3/10/21 2:27 PM
24 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
2021 PROJECT HONOREES
AWARDS
BEST INDUSTRIAL PROJECT AGOURA LANDMARK
Location: 29601-29697 Agoura Road, Agoura Hills GOLD
Developer: Martin Teitelbaum Construction
General Contractor: Martin Teitelbaum Construction
AWARD
Architect: Lanet/Shaw Architects
A
goura Landmark was the first
development of its kind in decades
in its submarket. The project is
comprised of 25 industrial condos,
approximately 75% was under contract
prior to the project’s completion. Purchase
prices achieved created new benchmarks
for the Conejo Valley with sales in excess
of $450 per square foot.
Agoura Landmark’s architecture,
quality of construction and strategic
positioning merited the robust activity and
record sales prices.
Martin Teiltelbaum’s long tenured
experience and expertise was paramount
in the project’s approval and complex
design around an existing oak tree that
could not be removed or located. Instead,
Teitelbaum’s vision made the oak a focal
architectural element surrounded by the
project’s loading court.
BEST INDUSTRIAL PROJECT ELEVAR
Location: 18362 / 18408 / 18412 / 18424 W. Oxnard Street, Tarzana
Developer: Alvarez & Marsal Capital Real Estate, LLC SILVER
General Contractor: Parker Brown Inc AWARD
Architect: Wolcott Architecture
P
arker Brown recently completed a
significant overhaul of an industrial
property in Tarzana for its client, Elevar.
The job was to transform four industrial
buildings into a modern industrial park
setting to help the client attract the
entertainment and information companies
that are growing in the Valley. There were
four buildings gutted and rebuilt with
tasteful settings and interior design.
Outside the buildings, crumbling
asphalt needed to be torn up and parking
and walking areas replaced with new
concrete and the façade of the buildings.
Also added were new utility lines and lush
landscaping to beautify the area.
017-38_sfvbj_cre_postSUPP.indd 24 3/10/21 2:28 PM
MARCH 15, 2021 CUSTOM CONTENT – SAN FERNANDO VALLEY BUSINESS JOURNAL 25
COMMERCIAL
REAL ESTATE
2021 PROJECT HONOREES
AWARDS
BEST PUBLIC SECTOR PROJECT SIMI VALLEY FREE CLINIC
Location: 2003 Royal Avenue, Simi Valley GOLD
Developer: Simi Valley Free Clinic
General Contractor: Parker Brown Inc.
AWARD
Architect: GPArchitecture
T
he Free Clinic of Simi Valley is in a new
home. The clinic, which has served
the needy in Simi Valley since 1971
with medical, dental, legal and counseling
services, is now located at 2003 Royal
Avenue. Parker Brown handled all of the
tenant improvements in the new building
under exceptional deadline pressure.
“We couldn’t be happier than we are
in the new building, although it is a bit
awkward to be doing this during the time
of COVID-19,” said Fred Bauermeister,
executive director of the Free Clinic of
Simi Valley. “Parker Brown was a great
community partner for us.” Bauermeister
said the pandemic created obstacles for the
clinic and the crews from Parker Brown, but
working together they were able to meet a
“hard deadline” for the move.
The construction work consisted of a full
interior demolition of 8,417 square feet of
office space, including asbestos abatement
and the buildout of a new OSHPD3 medical
facility, including dental imaging, labs and
operating rooms.
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017-38_sfvbj_cre_postSUPP.indd 25 3/11/21 2:48 PM
26 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
BROKER OF THE YEAR
AWARDS
BENNETT ROBINSON
CBRE
B
orn and raised in Los Angeles, the San Fernando Valley has always
been Bennett Robinson’s area of expertise. Having achieved the title of
executive vice president, Robinson is known to have done it all during
his 33 year career with CBRE in the San Fernando Valley. Bennett’s leasing GOLD
and sale activity for 2020 ranged from 968 square feet to 221,842 square feet,
demonstrating that no client’s needs are too big or small. In 2020, Bennett AWARD
was invited to join CBRE’s Executive Industrial & Logistics Committee, which
provided him with insights about the industry and a first glance at new real
estate platforms and prototypes that will be launched in the near future. This
involvement only adds to the vast knowledge of the industry and marketplace
gained by his many years of transacting in the San Fernando Valley.
As the world slowed down to deal with a global pandemic, Robinson and his teammates, client
2020 SNAPSHOT services coordinators John Sheehy and Berit McLaughlin, charged forward – completing roughly 1.5
transactions per week for a total of 81 transactions. Robinson and team have brought many well-known
SQUARE FOOTAGE: 2.3 million sf total clients to the Valley, such as Tesla, Hirsch Pipe & Supply, Caesarstone, Target, Home Depot, Barefoot
TOTAL TRANSACTIONS: 81 Dreams, Prologis, Rexford, Xebec Realty, Link Logistics, Invesco and Overton Moore Properties. Bennett
and team are currently involved with the transformative 60-Acre, multi-use development known as
(approximately 1.5 transactions per week) Avion Burbank, adjacent to the Hollywood Burbank Airport.
Throughout it all, the team has demonstrated; a) commitment to building the San Fernando Valley
LARGEST SQUARE FOOTAGE: 221,842
into a strong business hub, b) perseverance in the face of the unique challenges of 2020 and c) a true
TOTAL CONSIDERATION (Deal value): $210,818,885 “love of the game” when it comes to real estate transacting.
JOHN SHEEHY BERIT MCLAUGHLIN
CBRE CBRE
017-38_sfvbj_cre_postSUPP.indd 26 3/10/21 2:28 PMCreate Your Very Own
MARCH 15, 2021 CUSTOM CONTENT – SAN FERNANDO VALLEY BUSINESS JOURNAL 27
Production Village
MAY 2021 COMPLETION
LESS THAN 3 MILES FROM THE BURBANK MEDIA DISTRICT
Avion Burbank is an open canvas catering to the unique needs of production studios and content creators.
The nine creative office buildings share common outdoor space making collaboration easy, and each building
can be individually customized to meet your needs. The village offers the potential for your very own production
studio housed within our creative campus, adjacent to an abundance of first-class amenities.
This is the Place Now is the Time
The City of Burbank embraces the media industry Take advantage of the moment to create a safe and
modern touch-free work environment
Avion is surrounded by the world’s largest media companies
Enjoy the comforts of fresh air with large roll-up doors
The project is steps away from the Hollywood Burbank and operable windows
Airport and Metrolink Station
A rare opportunity to leave your high-rise behind and own
your very own production space
avionburbank.com
019-46_sfvbj20210315_fullpages.indd 27 3/10/21 12:28 PM28 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
BEST INDUSTRIAL SALE
AWARDS
GOLD
VITAL STATISTICS AWARD
Property Address: 16130-16320 Stagg St.,
7817-7877 Woodley Ave., 16216-16270 Raymer St.,
16301-16345 Raymer St., 8045 Woodley Ave., Van Nuys JOHN DEGRINIS
Square Footage: 426,466 Newmark
Deal Value: $155 million
T
his transaction was a record valuation in terms of both price per
square foot and yield. Newmark’s John DeGrinis, Patrick DuRoss
and Jeff Abraham represented both the buyer and seller in the
$154.6 million sale of this premier business park. The business park
totals 19 buildings, spanning 426,466 square feet. This was a record
valuation in terms of both price per square foot and yield. The Daily
family had owned the property since the 1930s. The property is unique
in that four generations of the family had owned and managed the
property until it was sold in December 2020. The airport was taken PATRICK DUROSS JEFF ABRAHAM
over by the U.S. Department of Defense in 1941, and the family built Newmark Newmark
the business park on the remaining land. Team DeGrinis has worked
with the Daily family since 2010.
SILVER
AWARD
VITAL STATISTICS
Property Address: 9261 Independence Avenue, Chatsworth
Square Footage: 43,774
Deal Value: 7.5 million
B
ruce Simpson’s $7.5 million dollar sales transaction of 9261
Independence Avenue in Chatsworth proved to be a challenge BRUCE SIMPSON
and success for the experienced broker. The 43,744 square foot
building is located on a massive over-sized parcel of approximately Delphi
105,955 square feet and boasts both dock high and ground level
loading. Simpson worked with the seller to make important
improvements to the property while on the market. His work paid
off and soon after remarketing the property after an impressive clean
up, he had active interest. It took only one month for the property to
receive multiple offers and soon was under contract.
VITAL STATISTICS
Property Address: 8201 Woodley Avenue, Van Nuys
Square Footage: 280,000 (17 Acres)
Deal Value: $83 million
CHRIS JACKSON
NAI Capital
C
o-CEO Chris Jackson, EVP Todd Lorber and Brent Avis (all
of NAI Capital) represented the buyer (Blackstone) and seller
(Realty Bancorp Equities), in the $83 million transaction which
closed just days prior to the pandemic shutdown. In commercial real
estate timing is everything. The seller received a great pre-pandemic
price and the buyer a great piece of real estate in the one of the more
sought after industrial markets in the country.
TODD LORBER BRENT AVIS
NAI Capital NAI Capital
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COMMERCIAL
REAL ESTATE
BEST INDUSTRIAL LEASE
AWARDS
GOLD
VITAL STATISTICS AWARD
Property Address: 21123 Nordhoff Street, Chatsworth
Square Footage: 59,157
Deal Value: $5 million CHAD GAHR
NAI Capital
D
emand for space from cosmetic and beauty supply companies has
accelerated during the COVID-19 period as consumer demand to
purchase products online continues to increase. The North Los
Angeles industrial market has proven to become a hub of sorts for
the cosmetics industry as additional cosmetics companies continue
to absorb space. Many of the expansions are from beauty product
companies who offer their products “direct to consumer” and manage
their own logistics and distribution processes.
Bellami Hair, an industry leader in permanent and clip-on hair
extensions as well as wigs, has leased a 59,157 square foot free-standing
DAVID YOUNG
building located at 21123 Nordhoff Street in Chatsworth. Built in 1981
and extensively renovated in 2020, the building will service as Bellami’s NAI Capital
new corporate headquarters and distribution facility. Chad Gahr and
David Young represented both the tenant, Bellami, and the landlord,
JTC Investment Properties, LLC, in the transaction.
SILVER
AWARD
VITAL STATISTICS
Property Address: 13309 Paxton Street, Pacoima
Square Footage: 10,296
YAIR HAIMOFF
Deal Value: $790,247
Spectrum
T
his deal was closed during the initial stages of the COVID-19
pandemic and the state-wide lockdown. Spectrum’s client is a
local family-owned bakery who experienced massive product
demand due to the pandemic. Specializing in Mexican pastries and
breads, the client needed to acquire a property to bake and distribute
their products to meet local demand with the ultimate goal of
expansion. This family owned small business is a staple bakery in the
San Fernando Valley, and this lease completed by Yair Haimoff and
Barry Jakov will allow the bakery to grow and meet massive product
demand well into the future.
BARRY JAKOV
Spectrum
Property Address: 2595 Conejo Spectrum Street, Thousand Oaks
Square Footage: 50,708
Deal Value: n/a
B
arefoot Dreams, a lifestyle brand specializing in home, baby,
youth, adult apparel and pet products exclusively licensed with
The Walt Disney Co., has signed a 50,708 square-foot lease at BENNETT ROBINSON
Rexford Industrial’s Conejo Spectrum in Thousand Oaks. Bennett CBRE
Robinson of CBRE represented Barefoot Dreams in the lease
transaction. The freestanding building is part of the 29-acre Conejo
Spectrum Business Park. The Class A industrial building is brand
new and is now occupied for the first time since construction was
completed.
017-38_sfvbj_cre_postSUPP.indd 29 3/10/21 2:29 PM30 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
BEST OFFICE SALE
AWARDS
GOLD
AWARD
VITAL STATISTICS
Property Address: 28494 Westinghouse Place, Valencia
Square Footage: 65,178 sf / 3.37 Acres YAIR HAIMOFF
Deal Value: $15 million Spectrum Commercial
T
he Spectrum CRE team made up of Yair Haimoff, Andrew Ghassemi
and Matt Sreden received an assignment to sell a Class-A office
building on an off-market basis. The team located a qualified buyer.
An escrow was opened and for various reasons the transaction was
terminated. Through multiple discussions, the team was able to bring
both parties back together though months of back channel negotiations
and escrow was resurrected.
A new challenge arose in the form of the pandemic, which almost
jeopardized the escrow once again. The Spectrum CRE team, through
constant communication and almost daily conference calls were able
ANDREW GHASSEMI MATT SREDEN
to keep the communication channels open by all parties and were able
to help structure a deal which included a price reduction. The team Spectrum Commercial Spectrum Commercial
successfully proceeded to close the escrow. All this took place while the
“Stay-at-Home” orders were in effect.
SILVER
AWARD
VITAL STATISTICS
Property Address: 21100 Erwin Street, Woodland Hills
Square Footage: 41,058 CHASE COHEN RYAN SERLING
Deal Value: $11,750,000 Marcus & Millichap Marcus & Millichap
P
reviously home to Weider Health & Fitness, this iconic 41,058
square foot piece of real estate had been sitting vacant over the
past five years. After many unsuccessful attempts to lease or sell
the property with several other brokerage firms, Marcus & Millichap’s
Agnew | Serling Group made up of Chase Cohen, Martin Agnew,
Ryan Serling, and Stuart Fagan was able to secure the exclusive listing,
procuring multiple offers and ultimately closing the deal $115,000
above list price. This sale was one of the highest price-per-square-
foot office buildings north of 20,000 square feet to sell in the Warner MARTIN AGNEW STUART FAGAN
Center Submarket over the last trailing 24 months.
Marcus & Millichap Marcus & Millichap
VITAL STATISTICS
Property Address: 31303 Agoura Road, Westlake Village SEAN SULLIVAN MIKE LONGO
Square Footage: 253,720 CBRE CBRE
Deal Value: $69 million
I
n a deal led by CBRE’s Sean Sullivan, Todd Tydlaska, Mike Longo
and Anthony Delorenzo, commercial real estate investment and
development firm Drawbridge Realty has purchased a two-story
corporate campus in Westlake Village. Drawbridge paid $69 million
to acquire the 254,000-square-foot property from Strategic Office
Partners, an affiliate of TPG Real Estate. This project was one of the
most significant office sales in LA since the pandemic began. ANTHONY
TODD TYDLASKA DELORENZO
CBRE CBRE
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COMMERCIAL
REAL ESTATE
BEST OFFICE LEASE
AWARDS
GOLD
AWARD
NICO VILGIATE PATRICK CHURCH
VITAL STATISTICS Colliers International JLL
Property Address: 2835 N. Naomi, Burbank
Square Footage: 94,163
Deal Value: $42,999,491
T
his impressive lease project was achieved by Nico Vilgiate and Nick
Moscicki of Colliers who teamed with Patrick Church and Anneke
Greco of JLL. This was a single tenant lease for nearly 95,000 square
feet by Titmouse Animation. The company is a full-service animation
studio headquartered in Hollywood and this space will accommodate
the expansion of their animated shows and films.
NICK MOSCICKI ANNEKE GRECO
mercial Colliers International JLL
SILVER
AWARD
VITAL STATISTICS
Property Address: 2300 West Empire Avenue, Burbank
Square Footage: 170,870
Deal Value: n/a
NATALIE BAZAREVITSCH
CBRE
hap
O
rchestrated by Natalie Bazarevitsch, Kevin Duffy and Jackie
Benavidez of CBRE, Netflix signed this lease in Burbank. The
property is the biggest new office lease in Greater Los Angeles
this year and the building is now fully leased.
The deal is an example of how streaming firms have been
expanding and taking up both studio and office space at a rapid pace,
which has created increasing demand from a larger group of premier
investors.
N KEVIN DUFFY JACKIE BENAVIDEZ
hap CBRE CBRE
VITAL STATISTICS
Property Address: 100 E. Tujunga Avenue, Burbank
Square Footage: 32,056
Deal Value: $12,568,025
T
he two-story creative office building was recently renovated with
high ceilings, exposed brick walls, and polished concrete flooring. JUSTIN CUSUMANO
It has an excellent location in downtown Burbank walking Lee & Associates
distance to numerous dining, recreation and entertainment options,
the train station, city hall, post office, banks, and immediate access
to the 5 freeway. Two suites were leased for a combined $12,568,025.
Lee & Associates-LA North/Ventura Principal Justin Cusumano
negotiated the leases of both suites.
017-38_sfvbj_cre_postSUPP.indd 31 3/10/21 2:29 PM32 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
BEST RETAIL SALE
AWARDS
GOLD
AWARD
EL WARNER
VITAL STATISTICS Colliers International
Property Address: 27639-27667 Bouquet Canyon Road,
Santa Clarita
Square Footage: 27,876
Deal Value: $11.6 million
T
he biggest challenge in accomplishing this retail deal in Santa
Clarita was the timing of its closing. Early March of 2020 was a
very turbulent time and to close this transaction at the height of
the fear with the pandemic was incredibly challenging. El Warner
of Colliers and David Lachoff of Newmark got excellent pricing for a
DAVID LACHOFF
shadow anchored asset during a very difficult time for retail investment
sales. They sold the asset all cash which was critical as not only Newmark
retailers were shutting down at this time but so was the debt market.
SILVER
AWARD
VITAL STATISTICS
Property Address: 6000 Reseda Boulevard, Tarzana
Square Footage: 30,255
Deal Value: $10 million
B
y virtue of its zoning and transit-oriented location, the property
was originally marketed for its enticing development potential.
Unexpectedly during the sale process, Metro reorganized its
schedule and decreased the frequency of the neighboring bus route, LEE SHAPIRO
eliminating the property from the Transit-Oriented Development Kennedy Wilson
(TOD) area, which reduced allowable density and deterred developer
interest. Lee Shapiro overcame these obstacles and structured a deal
with a local investor who understood the submarket and the value
of converting the short-term leases to market rental rates over time
to increase returns. Amid a global pandemic, Shapiro impressively
closed the transaction within just four months for $10 million at a
cap rate of 4.1%.
VITAL STATISTICS
Property Address: 10701 Burbank Boulevard, North Hollywood
Square Footage: 2,737
Deal Value: $1.5 million
T
his property is unique in that it offers a variety of potential uses.
Multifamily developers could construct a 12-unit building on JAY RUBIN
this corner lot. Retail owner-users or investors, on the other
hand, could consider continued use as a highly-visible storefront Lee & Associates
on one of North Hollywood’s busy surface streets. The 2,737 square
foot property, located at 10701 Burbank Blvd, was purchased for
$1,500,000. Lee & Associates-LA North/Ventura Principal Jay
Rubin negotiated the sale.
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COMMERCIAL
REAL ESTATE
BEST RETAIL LEASE
AWARDS
GOLD
VITAL STATISTICS AWARD
Property Address: 9158-9162 Eton Avenue, Chatsworth
Square Footage: 76,462
Deal Value: $12,615,200 SCOTT CASWELL
Lee & Associates
A
great example of a successful multi-facility move, 9158-9162 Eton
Avenue in Chatsworth sold for $12.6 million. The space is great
for those looking for a showroom, storage, yard, manufacturing,
distribution space, and much more. Scott Caswell and his team
at Lee & Associates arranged for a temporary short term space of
approximately 60,000 square feet at the 2300 Ward Avenue, Simi
building while working out a complicated lease termination on 43,000
square feet of space to take this new property over for five years. The
deal was negotiated direct with ownership, which required Caswell’s
client to sublease back 10,000 square feet of office to the tenant
terminating the lease while simultaneously adding the adjoining
ERICA BALIN
24,000 square feet from the same ownership to secure a total of 67,000
square feet of space in Chatsworth where the client could be in close Lee & Associates
proximity to its other facilities.
SILVER
AWARD
VITAL STATISTICS
Property Address: 2801 Cochran Street, Simi Valley
Square Footage: 75,236
JAMES RODRIGUEZ
Deal Value: $8.27 million
Colliers
T
his property is located at Sycamore & Cochran, Simi Valley’s
highest-trafficked intersection (55,000 cars/day). The existing
single level retail building formerly occupied by Walmart consists
of approximately 75,000 square feet.
In 2020, despite retailers being faced with the hurdle of
overcoming COVID 19, the Colliers team led by James Rodriguez
and Michael Bohorquez was able to identify multiple prospects that
had an optimistic outlook, negotiate reasonable terms and finalize
two transactions to occupy 100% of the building. Hobby Lobby
has leased 53,000 square feet and has been open and operating MICHAEL BOHORQUEZ
since October 2020. Planet Fitness is weeks away from finalizing its
construction as well. Colliers
VITAL STATISTICS
Property Address: 19355 Plum Canyon Road, Santa Clarita
Square Footage: 18,000
Deal Value: $3.6 million
J
ohn Cserkuti was able to assist in securing the first location for a
national grocery tenant in Santa Clarita. A spike in new housing
in the immediate trade area helped boost the need for a true ‘daily
needs’ type shopping center. Cserkuti was able to lease out close to
70,000 square feet during a pandemic year bringing the development
to over 90% occupied, enabling the landlord to move out of his JOHN CSERKUTI BERT ABEL
expiring construction loan and into long term permanent financing. NAI Capital NAI Capital
017-38_sfvbj_cre_postSUPP.indd 33 3/10/21 2:31 PM34 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
BEST LAND SALE
AWARDS
GOLD
VITAL STATISTICS AWARD
Property Address: 8250 Lankershim Boulevard, North Hollywood
Square Footage: 9.15 acres
Deal Value: $33 million
T
his iconic property was operating as a mobile home park prior to a
deal orchestrated by Laurie Lustig-Bower. Over the past 20 years,
ownership was successful in vacating 140 of the mobile home spaces
to create this extraordinary value add opportunity. Remaining are 44
spaces that are currently leased to tenants that own their own homes. LAURIE LUSTIG-BOWER
These legacy units are mainly concentrated at the rear section of the CBRE
property. The potential is to put manufactured homes on the spaces,
starting with the 62 spaces that are available for new rental homes as a
multifamily community. Included in the price for the property are 79
new manufactured homes. Some new homes are already installed and
occupied with tenants, and some are in various stages of installation.
The land was sold for the construction of Hollywood Beach Resort
Homes for $33 million. 186 units will be developed on the 9.15-acre site.
SILVER
AWARD
VITAL STATISTICS
Property Address: 130 E Santa Anita Avenue &
120 E Providencia Ave, Burbank BRADLEY
Square Footage: 33,946 WETHERBY MARTIN AGNEW
Deal Value: $4 million Marcus & Millichap Marcus & Millichap
T
he Agnew | Serling Group of Marcus & Millichap represented
the sale of 130 E Santa Anita Ave & 120 E Providencia Ave,
an extremely rare development site in the heart of downtown
Burbank. The property had been home to three generations of the
Joseff family and dates back to World War II. After competing with
several top brokers, the Agnew | Serling Group was able to secure
the exclusive listing, procuring multiple offers and ultimately closing
the deal at a higher-than-average price/SF. In the end, an established
hotel developer bought the property with plans to construct a 6-story
building with roughly 70 keys. JOSHUA YARIS RYAN SERLING
Marcus & Millichap Marcus & Millichap
VITAL STATISTICS
Property Address: Lot 3 of Tract No 5979, Camarillo
Square Footage: 1.87 acres MIKE TINGUS GRANT HARRIS
Deal Value: $5,492,032 Lee & Assoc. Lee & Assoc.
L
ocated in Camarillo, this 1.87 acre property was sold for
$5,492,032. Lee & Associates-LA North/Ventura president Mike
Tingus, Grant Harris, and John Ochoa negotiated the sale with
Kaiser Foundation Health Plan, Inc.
GRANT FULKERSON JOHN OCHOA
Lee & Assoc. Lee & Assoc.
017-38_sfvbj_cre_postSUPP.indd 34 3/10/21 2:32 PMMARCH 15, 2021 CUSTOM CONTENT – SAN FERNANDO VALLEY BUSINESS JOURNAL 35
DELPHI BUSINESS PROPERTIES, INC.
019-46_sfvbj20210315_fullpages.indd 35 3/9/21 1:06 PM36 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
BEST MULTIFAMILY SALE
AWARDS
GOLD
AWARD
VITAL STATISTICS
Property Address: 555-559 E Olive Avenue, &
321 S 6th Street, Burbank MICHAEL DIXON
Square Footage: 84 units NAI Capital
Deal Value: $83 million
S
enior Vice Presidents Michael Dixon and Ziv Kozaski with NAI
Capital Commercial’s Multifamily Services Group completed the
sale of an 84-unit apartment portfolio located in Burbank. Kozaski
and Dixon represented the seller in the trustee sale
This was the largest apartment sale transaction in Burbank when
it happened – and the biggest in three years. This attractive long-term
investment was placed on the market, by the original owner, for the first
time in over 30 years. Within days of marketing the portfolio it received
multiple offers. The new buyer, who owns many apartments in Burbank,
added 84 units to its portfolio.
The buyer was able to close on the portfolio in the middle of the ZIV KOZASKI
Covid-19 shutdown, overcoming challenges in the mortgage market. NAI Capital
The trustees were thrilled to cash out and receive their funds.
SILVER
AWARD
VITAL STATISTICS
Property Address: various locations throughout the
San Fernando Valley
Square Footage: n/a
Deal Value: $20.2 million
D
aniel Withers and his team at Mathews Real Estate brokered the sale
of a multifamily portfolio consisting of nine buildings located in San
DANIEL WITHERS
Fernando Valley for $20.2 million. The seller, a family trust that owns
a sizeable portfolio of apartment buildings throughout the county, was Mathews Real Estate
looking to capitalize on the high price of the asset in today’s market. The
buyer, who was sourced by Matthews Real Estate agents, is a high-net-
worth private client motivated to grow his portfolio with well-maintained
assets and future upside in rents. Withers and team were successful in
negotiating early earnest money being released and a quick close of
escrow.
VITAL STATISTICS
Property Address: 12960 Dronfield Avenue, Sylmar
Square Footage: 178,000
Deal Value: $29.4 million
M
ountain View Manor is a rare, sizeable multi-family asset
catered for the most in-demand workforce rental housing.
Shaya Braverman, co-founder and executive vice president
of Partners CRE/Compass Commercial, a Compass real estate
brokerage, along with associate Brendan Brown, represented both
the buyer (Positive Investment) and seller (21 Alpha Group) in the
$29.4 million deal. Built in 1964, this multi-family property was
extensively rehabbed under the Low-Income Housing Tax Credit SHAYA BRAVERMAN BRENDAN BROWN
program. Compass Commercial Compass Commercial
017-38_sfvbj_cre_postSUPP.indd 36 3/10/21 2:33 PMMARCH 15, 2021 CUSTOM CONTENT – SAN FERNANDO VALLEY BUSINESS JOURNAL 37
Shaya Braverman Brendan Brown
Executive Vice President Commercial Associate
$29,400,000 178,000
Deal Value Square Feet
019-46_sfvbj20210315_fullpages.indd 37 3/9/21 11:01 AM38 SAN FERNANDO VALLEY BUSINESS JOURNAL – CUSTOM CONTENT MARCH 15, 2021
COMMERCIAL
REAL ESTATE
BEST MEDICAL SALE
AWARDS
GOLD
AWARD
VITAL STATISTICS
Property Address: 18362-18424 Oxnard Street, Tarzana
Square Footage: 76,980
KEVEN
Deal Value: $37.75 million
FENENBOCK ROB HOOKS
Colliers Cushman &
I
n 2018, Colliers International identified a four-building industrial center International Wakefield
located on a 4.28 acre site in Tarzana as a potential redevelopment
opportunity for creative office space, and introduced the opportunity
to Alvarez & Marsal, who purchased the site in July 2018, and jointly
engaged Colliers and Cushman Wakefield to successfully market the
property for lease, renaming it ELEVAR.
In early 2020, with COVID related closures affecting office demand,
and entertainment related production significantly reduced, the leasing
team identified the biotech and life sciences industry as an excellent
target group for the features offered by ELEVAR, which had many
similarities to the entertainment related audience. JACOB
In June 2020, the team identified a life science related company MUMPER DILLON MOSCONE
looking for a facility in Los Angeles, but with a preference to purchase.
Instil Bio, Inc., purchased the site in October 2020 for $37.5 million. Colliers Cushman &
Additional renovations and improvements are currently underway for International Wakefield
their future occupancy.
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