|
|
Article: Nine-figure deal? (Real Estate).(Lennar Partners is landlord for LNR Warner Center )(Brief Article)(Column)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 6, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The first two phases of LNR Warner Center could fetch more than $100 million when they go on the market this year, according to real estate sources.
The 450,000-square-foot Woodland Hills complex is 96 percent leased, with rents in the $2.50 a foot range, about average for Class-A office buildings in the West Valley, according to Grubb & Ellis Co. Its largest tenant, health care provider Health Net, occupies 334,000 square feet in a long-term deal.
At $100 million, LNR Warner Center would sell for $220 a foot. In comparison, Santa Monica-based Douglas Emmett bought ...