The Real Deal Los Angeles

Anthem Blue Cross signs 169K sf lease at Warner Center campus

Property is co-owned by Lincoln Property Co. and Angelo Gordon
By Natalie Hoberman | July 31, 2018 05:00PM

Anthem CEO Gail Boudreaux, and Warner @ Warner Center

Health insurance provider Anthem Blue Cross inked a deal to occupy 169,000 square feet at an office campus in the Warner Center, the company announced Tuesday.

The complex, formerly known as LNR Warner Center and renamed Campus @ Warner Center, is comprised of two six-story office buildings located at 21255 and 21215 Burbank Boulevard.

Blue Cross-Blue Shield insurer Anthem is moving from a nearby office tower, located at 21555 Oxnard Street, to four floors at 21215 Burbank, a Class A office building.

Terms of the long-term lease were not disclosed. Marketing materials, however, list rents at $2.90 per square foot.

Developer Lincoln Property Co. and Angelo, Gordon & Co., an investment advisor that focuses on credit and real estate, jointly own the 509,000-square-foot campus. They paid $147 million for the property in December 2016, records show.

It includes a fitness center, cafeteria and basketball court.

Corey Davidson, Liron Nelik, and David DiPietro of Savills Studley represented Anthem Blue Cross. Kent Handleman led the negotiations for Lincoln Property.

The Warner Center has been attracting a steady stream of developers to the San Fernando Valley recently. One of the larger projects circulating through approvals is Adler Realty Investments’ sprawling Warner Center campus, which is slated to deliver 1,000 new residential units and over 1.25 million square feet of office space. It is part of the Warner Center 2035 Plan, which city officials hope will help transform the region from a business hub to a residential neighborhood.