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