Why Office Investors Are Heading to the Valley

LOS ANGELES—Sandstone Properties buys a class-A office tower in Sherman Oaks for $57 million in a transaction driven buy major market growth and low office vacancy rates.

Tower at Sherman Oaks

LOS ANGELES—The San Fernando Valley office market is a hot investment market, if the recent sale of the Tower at Sherman Oaks is any indication. Investor Douglas Emmett sold the property to Sandstone Properties for $56.7 million, or $338 per square foot. The market has excellent fundamentals with tremendous rent growth and a vacancy rate that trends several points below the Los Angeles market.

Located at 14724 Ventura Boulevard in Sherman Oaks, the 1966 property has 14 stories that offer views of the San Fernando Valley. The sale included an onsite-parking garage. The property is located walking distance from retail and near the 101 and 405 freeways.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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