Anthem’s longtime home in the Warner Center is now for sale

Sources estimate it could fetch between $110M and $125M

TRD LOS ANGELES /
Oct.October 11, 2018 04:00 PM
The property at 21555 Oxnard Street

A bulky office tower in the Warner Center, occupied by Anthem Blue Cross for over two decades, is now being marketed for sale as a redevelopment opportunity, The Real Deal has learned.

Brokers familiar with the 415,000-square-foot property say it could fetch bids between $110 to $125 million.

A group of private individuals currently own the building, which was formerly held by Anthem.

The healthcare giant will be vacating the 14-story building, located at 21555 Oxnard Street, by the end of 2019. It inked a deal to occupy 169,000 square feet, or four floors, at the Campus @ Warner Center in late July.

Roughly a year before signing the recent deal, Anthem hinted at a possible departure when it listed a massive plot of land surrounding its office building for sale. The 25.6-acre parking lot, where five parcels sit, is still on the market.

A buyer would be able to develop more than 5.5 million square feet of office, residential, retail or hospitality buildings on the site owned by Anthem alone, TRD previously reported.

Kevin Shannon at Newmark Knight Frank has the listing on Oxnard Street.

Warner Center, located in the Woodland Hills neighborhood in the San Fernando Valley, is comprised mostly of office buildings and parking lots. The city adopted the Warner Center 2035 master plan in 2013 in an effort to encourage new, especially residential, development in the neighborhood.

So far, it’s worked. A number of multifamily developers, including Hanover Co. and California Home Builders, have been proposing large residential projects in the area. The owner of the Mall of America is also in the process of buying one of the largest redevelopment sites in the area — a 47-acre former rocket engine manufacturing complex.


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

A rendering of the property, Cityview CEO Sean Burton and Virtu Investments principals Michael Green and Scott McWhorter (Credit: LCP 360) 

Virtu pays $71M for Warner Center complex in Opportunity Zone

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...