Rendering of redevelopment Warner Landmark property.
Avi Lerner, owner of the former home of health insurer Anthem Blue Cross, has proposed a plan to redevelop the building called Warner Landmark at 21555 Oxnard St. in Woodland Hills.
While Lerner has yet to submit plans to the Los Angeles Planning Department, he has shared his vision with the Planning and Land Use Management Committee of the Woodland Hills Warner Center Neighborhood Council.
The plan proposes an adaptive reuse of the officer tower with amenities such as restaurants and a 36-room hotel. Parking would remain in an existing subterranean garage.
The transformation would entail two phases. Phase II would see the construction of a neighboring 300-key hotel tower perched atop 17,000 square feet of supermarket space.
A single-story, two-tenant retail property in the city of San Fernando has sold for $2 million, or $382 per square foot.
The property at 101-103 N. Maclay Ave. on the corner of First Street has 5,240 square feet of space. Payam Naffas and Elham Partovi are the new owner/users of the property and will occupy about 2,200 square feet. The other tenant is Industrial Shoe Co., which moved into 3,040 square feet of storefront in June 2020, according to CoStar data.
Michael Sharon and Carol Marmor of illi Commercial Real Estate handled the transaction on behalf of seller David Hakimi, who owned the site since 2014. Eric Delgado of KW Commercial in Encino represented buyers Naffas and Partovi.
Marcus & Millichap s Matthew Luchs.
Calabasas-based real estate brokerage Marcus & Millichap Inc. has announced that Matthew Luchs has joined its Brandon Michaels Group as chief operating officer.
Based out of Marcus & Millichap’s Encino office, Luchs will be responsible for brokerage team management, agent training, team growth, branding and the implementation and oversight of a leasing and management division, according to a company announcement.
“I cannot begin to explain how thrilled we are to have Matthew join our team,” Brandon Michaels said in a statement. “Integrating a top-tier senior-level agent with extensive brokerage and management experience is a game changer.”
Luchs has served as regional manager for one of Marcus & Millichap’s top producing offices. As a regional manager, Luchs saw sales growth in excess of $1 billion annually and managed more than 50 investment professionals.
Two Burbank office buildings have sold for a combined $5.7 million.
Smart Business Solutions, a home health and consulting provider, purchased 4115-4119 W. Burbank Blvd. for $3 million, or $410 per square feet.
An undisclosed investor bought 120 Cypress Ave. for $2.7 million.
Lee & Associates LA North/Ventura negotiated the sale of both properties. Darren Casamassima, principal of the Office Brokerage Group at the brokerage, represented entities in both transactions.
The two-story Burbank Boulevard site, spanning 7,319 square feet, was built in 1958 and renovated in 2014.
The two-story Cypress Avenue location has 8,188 square feet of creative office space and was constructed in 2002.
Comparable office building sales include 1122 N. Brand Ave. in North Hollywood, a 5,200-square-foot recording studio that sold for $1.9 million, or $370 per square foot, in February 2020; and 1901 W. Magnolia Blvd. in Burbank, a building spanning 7,634 square feet which sold for $3.5 million, o
Fernando Awards Foundation statue.
A silver lining has emerged in the wake of the vandalization of the Native American obelisk at Warner Center Park during last May’s civil unrest: the Fernandeño Tataviam Band of Mission Indians will now hold a seat on the board of directors of the statue’s sponsors, the Fernando Awards Foundation.
“We need to give significance and recognition to the people who started the San Fernando Valley,” said David Honda, a longtime Fernando Awards Foundation director, who told the Business Journal Wednesday that the addition is to be made official Jan. 26 in a board meeting on Zoom.