Alvarez & Marsal Capital Real Estate, LLC has acquired an industrial property near the Orange Line busway in Tarzana with the intention of redeveloping it as an office campus.
The 4.3-acre site, located at 18362-18424 Oxnard Street, currently consists of four buildings comprising approximately 73,000 square feet of rentable space. New construction would add just over 20,000 square feet of space to the property, creating a 96,500-square-foot campus called ELEVAR.
Plans call for a number of amenities, including Wi-Fi-enabled patios, a cafe, and a gym. An existing surface parking lot will also serve the property.
The developer is being represented by Rob Hooks, Katie Bernhisel, and Dillon Moscone of Cushman & Wakefield in partnership with Kevin Fenenbock and Jacob Mumper of Colliers.
Completion on all buildings is expected to begin in June and conclude by November 2019.
ELEVAR is located just east of the Orange Line's Reseda Sation.
- Tarzana (Urbanize LA)