Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WOODLAND HILLS, CA-In one of the largest San Fernando Valley sales ever, privately held Bentley Forbes Group has paid $120 million for the 517,638-sf Woodland Hills office complex that serves as the headquarters for 21st Century Insurance.

The twin-towered 21st Century Plaza project stands in the 6300 block of Owensmouth Ave., in the heart of Warner Center. Each tower has 11 stories and is fully leased, with 21st Century occupying nearly all the space. Other tenants include Aetna Life Insurance Co. and Regus Business Centres Corp.

The seller is an affiliate of LA-based Tishman International Co. A brokerage team from Eastdil Realty Co. brokered both sides of the transaction.

Bentley Forbes, which also is based in Los Angeles, is a family-run investment company headed by C. Frederick Wehba and his son, C. Frederick Wehba II. The purchase pushes the company’s US real estate portfolio to about $900 million, the firm says.

The announcement of the sale of 21st Century Plaza came just hours after GlobeSt.com exclusively reported that international real estate conglomerate Grosvenor has paid an estimated $40 million to Nomura Warner Center Associates LP for the 252,973-sf Warner Corporate Center. The center, at 21300 Victory Blvd., is just a few blocks away from 21st Century Plaza.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.