S&G PROPERTIES MANAGEMENT LLC has purchased a significant office building in Woodland Hills for $10.05 million. The three-story, 62,241-square-foot property is located at 5550 Topanga Canyon Blvd. in the bustling Warner Center/Woodland Hills submarket. The new owner plans to occupy a portion of the space for its own company, Citiguard, marking a strategic move for the firm.
Key Takeaways
- An owner/user has acquired a 62,241 sq ft office building in Woodland Hills for $10.05 million.
- The buyer, S&G PROPERTIES MANAGEMENT LLC, intends to use part of the space for their company, Citiguard.
- The property is situated in the desirable Warner Center/Woodland Hills submarket.
- Lee & Associates – LA North/Ventura represented the buyer and will manage future leasing.
Strategic Acquisition in a Growing Market
The acquisition highlights the continued strong demand for office spaces from owner/users in the Warner Center/Woodland Hills area. This submarket is recognized as an attractive location for companies looking to expand their operations within Los Angeles. Darren Casamassima, a principal at Lee & Associates, noted the buyer’s attraction to the building’s prime location, its visibility from the 101 Freeway, and the potential to develop it into a premier office property.
Future Outlook and Leasing
Lee & Associates – LA North/Ventura, Inc., represented by principals Darren Casamassima, Scott Romick, and Jay Rubin, facilitated the transaction for S&G PROPERTIES MANAGEMENT LLC. Beyond representing the buyer in the acquisition, the Lee & Associates team will also be responsible for overseeing the leasing of the remaining space in the building. This dual role suggests confidence in the property’s potential and the market’s ability to attract new tenants.