JLL Gets 509,923-SF Office Leasing Assignment

By Natalie Dolce

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LNR Warner Center IV is ideal
for companies seeking visibility.

(Mark Your Calendars: RealShare REAL ESTATE 2012, March 22^nd in Los Angeles).

WOODLAND HILLS, CA-Landlord LNR has awarded Jones Lang LaSalle with the leasing assignment for LNR Warner Center IV. The two-building class A office complex at 21215 and 21255 Burbank Blvd. is made up of 509,923 square feet.

The property has immediate availability for users ranging from 10,000 square feet to 43,754 square feet. LNR developed the building in 2008.

Located one block north of the Ventura Freeway, LNR Warner Center IV has large floor plates.  It also features “unmatched visibility” and “convenient access to a deep and highly skilled labor pool.” In addition, it also offers numerous dining and entertainment venues and an array of amenities, both on-site and within the immediate vicinity.

Leading the leasing efforts for the property are JLL executive vice president Dan Sanchez and VP Ryan House. “Jones Lang LaSalle was selected for this assignment because of its deep understanding of the San Fernando Valley office market,” Sanchez explains. “LNR Warner Center IV is ideal for companies seeking visibility in a superior address in one of the most desirable submarkets in the Los Angeles region.”

Sanchez tells GlobeSt.com that the current occupancy rate is 48% leased with tenants including Intuit, Wells Fargo, REAL Software Systems, and Guardian Insurance. He says that asking rate at the building is “negotiable.”

Sanchez tells GlobeSt.com that “The Woodland Hills market has been somewhat soft and lacking velocity. There is currently a vacancy rate of approximately 20%.” However, he says, “there has been some good news with the recent signing of several long term deals by large tenants providing renewed stability and a firm base to build off of.”

Categories: West, Office, Leasing, Los Angeles