Tarzana Tower

Janet Neman proudly represented the buyer in this ten-story office/medical building sale in Tarzana, CA.

18321 Ventura Boulevard is a ten-story office/medical office building located in Tarzana, CA. The building, built in the mid-1970’s, is occupied by office tenants. The property consists of a 84,780 rentable square foot office building with 274 parking spaces on over an acre of land strategically located in the heart of the Ventura Corridor, an area which is reaching its vast potential for economic growth.

The property is located within convenient driving distance of three major Los Angeles Basin Freeways-San Diego (I-405), Hollywood (I-170) and the Ventura (US-101), as well as being located on iconic Ventura Boulevard. Situated in the near-center of the western San Fernando Valley, with convenient access to the major economic centers of Encino, and North Hollywood and Van Nuys, the Property is located at the virtual midpoint between such high-end residential areas as Encino Hills and Calabasas; as such, the property offers an ideal regional location. The property is a landmark in the area, being by far the tallest building within a two mile radius. The property is fully entitled for up to 37,000 feet of medical use and is ideally positioned immediately adjacent to the newly expanding Tarzana Hospital to be jointly operated by Cedars-Sinai and the hospital’s owner, Providence St. Joseph which acquired Tarzana Hospital in 2008 and has been upgrading its facilities and constructing a new patient care wing and emergency department. Under the terms of the new partnership, the hospital will be renamed and jointly run with Los Angeles–based Cedars-Sinai and will complete a $540 million dollar expansion in or about 2022.