Hugh Hilton, Managing Director & Chief Executive Officer for Alavrez & Marsal
A 4-acre industrial site in Tarzana will soon be transformed into an upscale office campus, the latest sign of heightened interest in the San Fernando Valley.
A&M Capital Real Estate, or A&M CapRE, will be redeveloping four flex and industrial buildings to become a 96,500-square-foot campus with offices and studio capabilities, the company announced Monday. A&M CapRE is the real estate investment arm of Alvarez & Marsal, a global professional services firm.
Dubbed Elevar, the adaptive reuse campus will feature an expansive amount of outdoor space with wifi-enabled patios. There will also be a fitness center and cafe for tenants.
Elevar rendering
The firm, based in El Segundo, plans on adding about 20,000 square feet of new construction to the site. It’s located at 18362 – 18424 Oxnard Street at the intersection of Oxnard Street and Reseda Boulevard, across from the Metro Orange Line Reseda Station.
Renderings of Elevar reveal a modern, industrial campus with splashy graffiti walls and high ceilings, exposed brick beams and open-floor layouts.
Rob Hooks, Katie Bernhisel and Dillon Moscone at Cushman & Wakefield will handle leasing for the property, alongside Kevin Fenenbock and Jacob Mumper of Colliers International.
A&M CapRE bought the campus for $18.4 million in July 2018, property records show.
Elevar rendering
The company also owns several projects in Carlsbad, including the Research Center Plaza on Rutherford Road, an office campus on Faraday Avenue and a 50,000-square-foot office building on Aston Avenue.
Recently, investors and commercial real estate industry players have been showing a greater interest in the San Fernando Valley. Last month, Newmark Knight Frank announced plans to open a new office in Woodland Hills. The Warner Center has also become a hotbed for developers, fueled in part by the Warner Center 2035 master plan adopted in 2013.
Source: The Real Deal Los Angeles