Statewide Building Boom Continues to Affect the Region
California’s continuing prosperity is producing a host of new commercial buildings in the San Fernando Valley as builders scramble to construct new office, industrial and retail space for expanding businesses.
Dozens of new commercial buildings were completed or began construction in the Valley during the third quarter alone, joining dozens of others that have either begun construction or been completed since the post-recession building boom began.
New commercial buildings in the Valley are part of a statewide increase in California’s total private, nonresidential construction that is up 7.4% to $10.66 billion in the first eight months of 1999, the latest figures available, according to the Burbank-based Construction Industry Research Board. Separate figures for the Valley are not available.
The following list includes major commercial projects that either broke ground, were completed, obtained governmental approvals or were announced during the third quarter. In addition to the projects on the list, commercial building in the Valley includes many projects that have been underway for some time.
Among these are the Plant, the industrial and retail center at the former General Motors Plant in Panorama City, and an expansion of Universal Studios CityWalk due to be completed in the spring. The Universal project features an IMAX 3D theater, a face-lift of the existing Universal City Cinemas, a second level at Fountain Court including a comedy theater, a beer garden, a piano bar and a live theater, along with a number of new restaurants and shops.
Project: West Hills Corporate Village
Location: 8501-8531 Fallbrook Ave., former Hughes missile site
Size: 590,000 square feet
Type of building: office
Developer: Regent Properties and Shamrock Holdings of Calif.
Cost: $100 million
Status: Renovation of some buildings completed; construction has begun on others.
Project: Burbank Plaza
Location: 280 Olive Ave.
Size: 200,000-square-foot office; 300-room, 75,000-square-foot Marriott Hotel
Type of building: office, retail and hotel
Developer: Regent Properties
Cost: $100 million
Status: Obtained city approval in third quarter
Project: Los Angeles County Courthouse
Location: Winnetka Avenue and Plummer Street, Chatsworth
Size: 300,000 square feet
Type of building: office
Developer: Alexander Haagen Co.
Cost: $59 million
Status: Construction began in third quarter
Project: Grand Central Creative Campus
Location: Grand Central Business Center, Glendale
Size: 125 acres
Type of building: Offices and sound stages
Developer: Walt Disney Co.
Cost: N/A
Status: Announced by Disney Co. in the third quarter
Project: Westlake North Business Park
Location: 30700 Russell Ranch Road, Westlake Village
Size: 327,474 square feet
Type of building: office
Developer: Investment Development Services and Kennedy Associates Real Estate Counsel
Cost: $50 million
Status: Construction began in third quarter
Project: Canwood Plaza
Location: 29229 Canwood Drive, Agoura Hills
Size: 100,000 square feet
Type of building: office
Developer: Silagi Development Co.
Cost: $15 million
Status: Construction began in third quarter
Project: Los Angeles County tax assessor’s office
Location: Cascades Business Park, Sylmar
Size: 40,000 square feet
Type of building: office
Developer: Royal-Clark Development Co.
Cost: $3.2 million
Status: Construction began in third quarter
Project: Speculative office project
Location: Cascades Business Park, Sylmar
Size: 364,000 square feet in three buildings
Type of building: office
Developer: Prudential Real Estate Investors
Cost: N/A
Status: Construction began in third quarter
Project: New Wave Entertainment Building
Location: 2660 Olive Ave., Burbank
Size: 40,000 square feet
Type of building: Office renovation
Developer: Regent Properties and New Wave Entertainment
Cost: $12 million
Status: Completed in third quarter
Project: Valencia Corporate Point
Location: 27202-27240 Turnberry Lane
Size: 180,000 square feet, first phase of 720,000-square-foot development
Type of building: office
Developer: Pac Ten Partners and Conning Asset Management
Cost: $20 million first phase; $95 million total
Status: First phase completed in third quarter.
Project: Valley Gateway Business Park
Location: 15624 Roxford St., Sylmar
Size: 168,000 square feet in three buildings
Type of building: industrial
Developer: World Oil
Cost: $10.5 million
Status: Construction began in third quarter.
Project: Pharmavite warehouse
Location: Vista Business Park, Valencia
Size: 418,000 square feet
Type of building: industrial
Developer: Investment Development Services Inc.
Cost: $8.3 million
Status: Construction began in third quarter.
Project: Howard Business Park
Location: 3100 San Fernando Road, Burbank
Size: 65,000-square-foot first phase of 305,000-square-foot project
Type of building: industrial
Developer: Bradley Howard as Howard LLC
Cost: $6.5 million first phase; $22 million total
Status: First phase completed and fully leased.
Project: Highridge Office Center
Location: 28001-28015 Smyth Drive, Valencia
Size: 30,000 square feet
Type of building: office
Developer: IIC Financial & Development Inc.
Cost: $4.6 million
Status: Construction began in third quarter.
Project: Chocolates a la Carte
Location: Valencia
Size: 110,950 square feet
Type of building: manufacturing and headquarters
Developer: Newhall Land & Farming and the Hewson Co.
Cost: $4.5 million
Status: Construction began in third quarter.
Project: Warehouse
Location: Chatsworth
Size: 144,000 square feet
Type of building: industrial
Developer: The Hewson Co.
Cost: $3 million
Status: Completed in third quarter
Project: Warehouse
Location: Van Nuys, behind Anheuser Busch plant
Size: 93,000 square feet
Type of building: industrial
Developer: The Lewis Co.
Cost: $2.7 million
Status: Construction began in third quarter
Project: Veratex Inc.
Location: The Plant, Van Nuys
Size: 110,000 square feet
Type of building: linen manufacturing
Developer: The Voit Cos. and Selleck Development Group
Cost: N/A
Status: Construction began in third quarter
Project: Zodax
Location: The Plant, Van Nuys
Size: 100,000 square feet
Type of building: industrial
Developer: The Voit Cos. and Selleck Development Group
Cost: N/A
Status: Construction began in third quarter
Project: Office building
Location: Avenue M-14 and 12th Street, Palmdale
Size: 8,094 square feet
Type of building: office
Developer: David Wallin
Cost: N/A
Status: Approval granted in July.
Project: Lewis Business Center
Location: 8000 Woodley Ave., Van Nuys
Size: 92,960 square feet
Type of building: industrial
Developer: Lewis Co.
Cost: N/A
Status: Construction completed
Sources: Cushman & Wakefield, CB Richard Ellis, Oltmans Construction Co., individual developers
*N/A--not available
