A 4-acre industrial site in Tarzana will soon be transformed into an upscale office campus, the latest sign of heightened interest in the San Fernando Valley.
A&M Capital Real Estate will be redeveloping four flex and industrial buildings to become a 96,500-square-foot campus with offices and studio capabilities, the company announced Monday. A&M Capital is the real estate investment arm of Alvarez & Marsal, a global professional services firm.
Dubbed the Elevar, the adaptive reuse campus will feature an expansive amount of outdoor space with wifi-enabled patios. There will also be a fitness center and cafe for tenants.
The firm, based in El Segundo, plans on adding about 20,000 square feet of new construction to the site. It’s located at 18362 – 18424 Oxnard Street, across from the Metro Orange Line Reseda Station.
Renderings of Elevar reveal a modern, industrial campus with splashy graffiti walls and high ceilings, exposed brick beams and open-floor layouts.
Rob Hooks, Katie Bernhisel and Dillon Moscone at Cushman & Wakefield will handle leasing for the property, alongside Kevin Fenenbock and Jacob Mumper of Colliers International.
A&M Capital bought the campus for $18.4 million in July 2018, property records show.
The company also owns several projects in Carlsbad, including the Research Center Plaza on Rutherford Road, an office campus on Faraday Avenue and a 50,000-square-foot office building on Aston Avenue.
Recently, investors and commercial real estate industry players have been showing a greater interest in the San Fernando Valley. Last month, Newmark Knight Frank announced plans to open a new office in Woodland Hills. The Warner Center has also become a hotbed for developers, fueled in part by the Warner Center 2035 master plan adopted in 2013.