Great Western Signs Lease for Chatsworth Building

Great Western Savings has signed a 30-year lease valued at more than $33 million for a 63,700-square-foot building at 9401 Oakdale Ave., Chatsworth, in the Northridge Business Park.

Owned jointly by Great Western Savings, Watt Investment Properties and Gerald L. Katell, the $7.5-million L-shaped structure is one of the first of the so-called “high-tech-flex” office and research-and-development buildings in the San Fernando Valley.

Designed by Kowalski-Harding & Associates, the tilt-up concrete building has expansion capability at the mezzanine level to increase the total floor space to 97,400 square feet, according to J. Scott Watt, president of the Watt concern.

When Great Western moves into the facility this month, the company will occupy a total of 700,000 square feet of space in eight buildings in the business park. The leasing agent was the Woodland Hills office of Cushman & Wakefield of California Inc.