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A JV of Providence St. Joseph Health and Cedars-Sinai has broken ground on a $600M new patient tower at the Providence Cedars-Sinai Tarzana Medical Center in Tarzana.
The 223K SF patient tower will rise six stories and offer 190 private rooms for acute care beds, intermediate care, monitored beds and an intensive care unit.
Perkins and Will is designing the project, which will also include a 600-space parking structure, green space, a healing garden and seating areas. The new wing will be completed by 2023.
“This new hospital marks a new frontier for healthcare by putting the focus on the patient and families,” Perkins and Will associate principal Mark Tagawa said. “More than just an expansion of services, this project embodies state-of-the-art models of care.”
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SALES
Drawbridge Realty has purchased a two-story, 254K SF office property in Westlake Village from Gpt Tpg 31303 Aguora for an undisclosed price. The office campus at 31303 Agoura Road sits on a 19.6-acre lot. Bank of America has a lease on the property through 2031. CBRE’s Todd Tydlaska, Sean Sullivan, Mike Longo and Anthony DeLorenzo represented the seller.
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2400 Sturgis Road Oxnard has purchased a 26,577 SF manufacturing facility in Oxnard from Boldt Enterprises for $4.3M. Built in 2004, the single-story manufacturing building at 2400 Sturgis Road features 4,500 SF of office space, two ground-level loading doors and 45 parking spaces. NAI Capital's Matt Ehrlich and Mike Tharp represented the seller.
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DJLJ has purchased a 2,400 SF retail building in Long Beach from CMH LBC for $5.56M. Built in 1977, the retail store at 2201 North Bellflower Blvd. is currently occupied by a Wendy’s fast-food restaurant. Matthews Real Estate Investment Services’ Aron Cline brokered the deal.
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A private investor has purchased a six-unit multifamily building in Los Angeles from an undisclosed seller for $1.5M. Built in 1962, the rent-controlled property at 1815 Bellevue Ave. features six two-bedroom, one-bathroom units. Marcus & Millichap’s Jason Tuvia represented the buyer and seller.
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The Goldfinger Group has acquired a two-story, 12-unit multifamily complex on a double lot in West Adams from an undisclosed seller for $2.9M. The 9,800 SF property on West Adams Boulevard features a mix of three-bedroom, one-bathroom units; two-bedroom, one-bathroom units; and one-bedroom, one-bathroom units.
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LEASING
Arrowroot Capital has signed a 10-year lease with LaSalle Investment Management and Steelwave to occupy a 20K SF office campus at Marina Park at 4553 Glencoe Ave. in Marina del Rey. Avison Young’s Blake Olson represented the tenant. A broker with Newmark Knight Frank represented the landlord, LaSalle Investment Management and SteelWave.
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AmazingComics.com has signed a lease with Weingarten Realty to occupy 1,750 SF of retail space at the Westminster Center at 6777 Westminster Blvd. in Westminster. Weingarten's Zach Blatteis represented the landlord.
EXECUTIVE NEWS
RevOZ Capital has named nine professionals to its board of advisors. The board will be responsible for providing strategic counsel to the principals of RevOZ, a Newport Beach-based company specializing in opportunity zone investments.
Members of the board are Christopher Cox, former chairman of the Securities and Exchange Commission; William Cvengros, former CEO of PIMCO Advisors and trustee of Janus Henderson Funds; Stephanie Rawlings-Blake, former Baltimore mayor and secretary of the Democratic National Committee; James Doti, economist and president emeritus of Chapman University; Shay Hawkins, president and CEO at Opportunity Funds Association; Christa Cole, managing counsel of Nestlé USA; Jerome A. Fink, co-founder and managing partner of The Bascom Group; Guy Johnson, founder of Johnson Capital Residential Investments; and Kunal Merchant, president and co-founder of CalOZ.
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Pircher, Nichols & Meeks has named William Swanson as an associate and Michael A. Seiden to partner. Prior to joining Pircher, Swanson served as an intern in the Trading and Markets division of the Securities and Exchange Commission. Seiden, who joined Pircher in 2011 as an associate, represents institutional investors, developers, homebuilders, publicly traded corporations and lenders nationwide in connection with their real estate transactions.
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Michael Jacobs has joined Kidder Mathews as a vice president in the firm’s El Segundo office, where he will specialize in multifamily investment properties in Long Beach and the greater Los Angeles area. Prior to joining Kidder Mathews, Jacobs was with NAI Capital in the South Bay office.
