FAQ: $10.05 Million Office Building Acquisition in Warner Center/Woodland Hills

What is the main topic of this real estate transaction?

S&G Properties Management LLC acquired a three-story 62,241-square-foot office building at 5550 Topanga Canyon Boulevard in Warner Center/Woodland Hills for $10.05 million, with plans to occupy part of the building and lease the remaining space.

Who purchased the office building and for how much?

S&G Properties Management LLC purchased the building for $10.05 million, with representation from Lee & Associates LA North/Ventura brokers Darren Casamassima, Scott Romick, and Jay Rubin.

What are the buyer’s plans for the property?

S&G Properties will occupy a portion for their security company Citiguard, invest capital to renovate both interior and exterior, create on-site amenities, and lease the remaining space to attract top-tier tenants.

Why is this location considered attractive for office space?

The building has prominent location at the corner of Topanga Canyon and the 101 Freeway with high visibility to tens of thousands of daily cars, and is central to Warner Center’s retail, restaurant, hotel, and business district.

What does this transaction indicate about the Warner Center/Woodland Hills market?

According to the brokers, there is strong demand from owner/users in this submarket, which continues to be attractive for companies seeking growth opportunities in Los Angeles due to its upside potential.

Who is Citiguard and what is their connection to this purchase?

Citiguard is described as the premier security guard company in California and is the company that S&G Properties Management LLC will be occupying part of the building for.

What role will Lee & Associates play going forward?

The Lee & Associates team that represented the buyer in the acquisition will also oversee leasing of the property moving forward after renovations are completed.

Where exactly is this office building located?

The building is located at 5550 Topanga Canyon Boulevard in the Warner Center/Woodland Hills submarket of Los Angeles, California, at the corner of Topanga Canyon and the 101 Freeway.

What makes this property suitable for creating a best-in-class office space?

The building offers upside potential through planned renovations, prominent freeway visibility, and its central location within a thriving business community with abundant amenities and services.