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 This property although located in an area that is transforming will be the catalysts for other similar outdated office and R&D parks to repurposing and reinvest.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.

Woodcourt - Woodland Hills Professional Office, Medical and Retail Space for Lease

Woodcourt, located in Woodland Hills, centrally located and just south of the 101 freeway, between De Soto Ave. and Winnetka Ave. at 20251-20315 Ventura Blvd.  The area is within close proximity to plenty of services, restaurants and all major transportation corridors with public transportation at its doorstep. 

Woodcourt offers a creative mix of Professional Office, Medical, and Retail space with Ventura Blvd frontage and monumental signage available.

Here at Woodcourt, there is a variety of efficient spaces and layouts and with the ability to create your ideal space whether it be an affordable, or flexible space for a growing start-up company, a professional office setting with abundant window line or a doctor’s office built to suite with all the high end touches.

Woodcourt’s lush landscaping and calming water features are unique elements that gives Woodcourt the sophisticated elegance yet casual environment that fuses professional office space with it’s open and flowing design.

Woodcourt offers newly built-out and ready to move in office spaces.  Generous Tenant Improvement Allowances are available for creating those one-off designs for your company or business specific needs.  In addition, some of the suites also feature a conference room, open bullpen area, kitchen, server & telephone room, private restrooms and reception area.  

Abundant surface and covered parking is available. Free Visitor Parking makes way for convenience and ease of access for guests. 

The lush and tranquil like setting is a unique feature to the professional offices and prominent Ventura Blvd address only found here at Woodcourt.