Northridge Commercial Real Estate In Review 2014

Reflecting on 2014, Northridge commercial real estate was interesting as movement of property was healthy as compared to previous years.  To note, in October, the well known Black Angus Steak House on Corbin Avenue traded hands. The property was sold as an investment property to an individual for $3.9 million. The passive investment with leases through 2018 is situated on 1.66 acres with 106 parking spaces allowing for a variety of uses down the line. Corbin Avenue from Nordhoff north to Plummer Street has some real intrinsic value as real development possibilities within the vicinity will dramatically change the atmosphere.

Retail and Fast Food center such as on Corbin Avenue and Nordhoff across from Lowe’s have been getting a lot of attention and achieving high sales prices for the Sellers. Local passive single tenant NNN leased properties are in demand. Also to note the redevelopment of the Nordhoff and Reseda eating establishment corridor with the newly opened Starbucks.

With entertainment, the Northridge bowling alley on Balboa, Matador Bowl comes to mind. It only makes sense for a business operator to own the property. Financing for SBA and special Owner-User lending programs are supporting the higher values in real estate that typical passive investors are finding it hard to financially pencil out. Interest rates such as the 10yr treasury will continue to remain low with a possibility of slight increases over the next 2 years.

Health Care properties in Northridge, more particular assisted and senior living facilities has been active with REITS and equity partnerships in 2014.  Northridge Senior Living on Lindley Ave is one of two properties to note. However the newly built property located at 9222 Corbin – The Village at Northridge will be one to watch. I speculate, interesting additions to the property are to come in the next couple years.

The Northridge Post Office was traded under the radar.  Eyes on this property for future planning has not been overlooked. This property should be interesting to follow in the next 5 years as plans will be in the works to transform the property.

In mid October of 2014, the Northridge Businesses Center sold for almost $46.5 million. This property although located in an area that is transforming will be the catalysts for other similar outdated office and R&D parks to repurposing and reinvest. This property known as The Campus will be interesting to follow as revitalization takes place in this area of Northridge.

Freestanding Northridge Office Available for Lease

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9255 Corbin Avenue offers an open and clean atmosphere for a variety of custom floor plans such as a tenant looking for a creative office space or a traditional corporate layout with unique finishes. Ideas for both single and dual tenancy office spaces include efficient designs coupled with creative features. The high ceilings, open space and rear loading can be utilized or converted for a space that's both functional and customized to suite a specific business operation. The property has terrific window line along the perimeter of the building for natural lighting and a healthy working environment. Parked at a ratio of 3 per 1,000, the building can accommodate a variety of light and heavy employed office users looking for space in a convenient area of Northridge with a variety of local amenities. The building is located within the Los Angeles State Enterprise Zone and brings added benefits to industries looking to relocate their business or head quarters to this location.
This Northridge office space is located on the signalized corner of Corbin Avenue and Prairie Street and has great street exposure. 9255 Corbin Avenue is centrally located in Northridge with easy access to the 118 Ronald Reagan, 101 Ventura and 405 Freeways and just west of the Northridge Fashion Center (Northridge Mall). The location of this Northridge office building is a few minutes from Cal State University Northridge (CSUN) -- home of the Matadors and other major employers. A variety of amenities in Northridge include a variety of eating establishments at and near the Northridge Fashion Center, Northridge apartment and senior living centers and the Northridge Hospital Medical Center.

Northridge is located in the northwest San Fernando Valley just north of Los Angeles city, south of Santa Clarita and Valencia, east of Ventura County and in the Los Angeles County.
Cities located adjacent to Northridge are Winnetka and Reseda to the south, Porter Ranch to the north, Chatsworth and West Hills to the west and North Hills and Granada Hills to the east.
Major thoroughfares close by are Corbin Avenue, Tampa Avenue, Wilbur Avenue, Reseda Boulevard, Winnetka Avenue, Plummer Street, Nordhoff Street, Lassen Street, and Devonshire Street.

Northridge Office Space Available for Lease

Plaza De La Cordillera, a Spanish style office building located at 18860 Nordhoff Street, Northridge.  The city of Northridge is a community in the San Fernando Valley, a part of the County of Los Angeles.  18860 Nordhoff Street, Northridge office building is centrally located with education, employment, health care, shopping and entertainment. California State University Northridge, CSUN, Medtronic, Northridge Hospital Medical Center and the Northridge Fashion Center, all within close proximity.  
Plaza De La Cordillera was built in 2001, recognizing the historical influence of the Southwest Americas on the soils of this thriving modern community of Northridge.  From the Spanish tiles and classical styled fountains to the architecture commissioned by Frank Gehry, Plaza De La Cordillera is truly one of a kind office building.  The artistic landscape and the calming water features brings a relaxed setting but professional image for any corporate office looking for an appealing headquarters in this vibrant city of Northridge.

For more information and office leasing availability, please contact Eric Nishimoto or Jay Rubin at Lee & Associates -- LA North/Ventura, Inc. at 818-223-4388.       

18860 Nordhoff Street, Northridge located on the signalized corner of Nordhoff Street and Wilbur Avenue. Other thoroughfares close by are Reseda, Corbin, Plummer, Parthenia, Tampa, Winnetka, Lassen, Lindley, Roscoe, Devonshire, Mason, White Oak, Balboa, Zelzah, Strathern, Saticoy, Sherman Way, Chatsworth, De Soto, San Fernando Mission, Rinaldi, Topanga Canyon, Vanowen, Victory, Oxnard, Ventura, Burbank, Hayvenhurst, Woodley, Haskell, Sepulveda and 118 Ronald Regan Freeway, 405 San Diego Freeway, 101 Ventura Freeway.

Servicing the Los Angeles County & Ventura County and surrounding areas of the San Fernando Valley & Conejo Valley: Chatsworth, Canoga Park, Winnetka, West Hills, Woodland Hills, Warner Center, Reseda, Van Nuys, Granada Hills, North Hills, Northridge, Porter Ranch, Tarzana, Encino, Sherman Oaks, Valley Village, Studio City, Lake View Terrace, Lake Balboa, Shadow Hills, Sun Valley, Sunland, Tujunga, Toluca Lake, Valley Glen, North Hollywood, Sylmar, Van Nuys, San Fernando, Arleta, Panorama City, Pacoima, Burbank, Glendale, Hidden Hills, Calabasas, Agoura Hills, Westlake Village, Newberry Park, Thousand Oaks, Oak Park.

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