New leases for 19500 Ventura Blvd. total more than $18 million
Tarzana, CA – October 9, 2023 – 19500 Ventura Blvd., an architectural design award–winning open-air medical complex that has just completed its $5M transformation into a first-class medical professional building – leased the entire ground floor and a portion of the second floor to hit the over 60% leased benchmark. Brokers Scott Romick and Eugene Kim, both principals with Lee & Associates LA/North Ventura, represented the landlord, Greenbridge Investment Partners for the two most recent transactions.
The new tenants include: United Medical Doctors, Southern California’s premier independent multi-specialty medical and surgical group that will be taking approximately 20,000 SF of space which includes a surgery center, a multi-disciplinary care clinic and an urgent care center; and a 2,000 SF space that will be a new pharmacy. Phyllis Palin, executive vice president of Enzo Equities, represented United Medical Doctors.
“This project delivers an easier more effective and efficient way of delivering healthcare to residents,” emphasized Sean Hashem, principal with Greenbridge Investment Partners, the developers of the complex who invested almost $5 million to re-invent the facility. “When we started this several years ago, we saw an opportunity for medical demand in the market and created a unique project unlike any other in Tarzana.”
The newly renovated building comes with valet parking, an open air-lobby atrium with a two-story high ‘living wall’ that uses extensive greenery and more – all aimed at creating a productive and serene environment for patients and clinicians alike.
“There is a shortage of fresh new medical office space in this area and it’s clear that this location – which is right in the middle of Tarzana on Ventura Blvd. and just down the street from the Providence Cedars-Sinai Medical Center– is a great option,” said Romick who specializes in the area.
United Medical Doctors‘ multi-specialty practice is expanding their presence in the San Fernando Valley, and bringing a new first class ambulatory surgery center and urgent care to serve patients from Calabasas to the East Valley. United Surgery Center has multiple locations throughout Southern California.
The building was designed by Harley Ellis Devereaux, a national architectural firm known for mission-driven design that supports world-class medical care. The firm’s design choices were carefully selected to create a patient experience that is both calm and serene.
“We were able to create an environment that promotes wellness in an area that is fast becoming the hub for healthcare,” said Fareed Kanani, a principal with Greenbridge. “Doctors are excited about building contemporary brand-new offices designed to their needs and specifications rather than the traditional, tired medical offices that are in now. Truly, this is an award-winning design for a medical facility that doesn’t feel like one, which was our goal.”
Tenants are expected to begin moving in during the third quarter of 2024.
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About Lee & Associates – LA North/Ventura, Inc.
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