19500 Ventura Blvd : 45,000-SF Tarzana Complex Among the Valley’s First New Healthcare Space Since the Pandemic Began
The redevelopment of 19500 Ventura Blvd which is being transformed into a first-class medical professional building, has reached the halfway point marking a critical milestone that will lead to substantial completion by the end of 2021. Greenbridge Investment Partners, a full-service commercial real estate firm, is the project developer for the $4.5 million renovation.
With the projected on-time completion of the 45,000-square-foot complex, which features creative and contemporary design elements and space for on-site amenities, leasing has begun for both healthcare tenants as well as restaurants for 4,000 square feet of ground-floor space at the hard corner of Shirly and Ventura.
“Despite the pandemic’s construction challenges, we’re set for a timely completion without sacrificing the ambitious design elements that truly make this project special,” said Steve Vasquez, asset manager of Greenbridge Investment Partners. “Elements such as a large open-air atrium, a living wall, and ground-floor dining make this a very attractive location for both providers and their patients.”
Designed by Harley Ellis Devereaux, a national architectural firm known for mission-driven design that supports world-class medical care, the redevelopment incorporates elements that create a calming and comforting patient experience. In addition to valet parking and 144 parking spaces that give patients ease of access, a large open-air atrium will provide outdoor seating, and the living wall will use greenery to frame the ground-floor walkways.
Mindful of how the pandemic has altered the needs of healthcare providers, the building will feature filtration systems, open hallways, and open-air walkways. It is among the first new medical properties scheduled for completion in the post-pandemic era.
“Tarzana has become a hub for healthcare in the San Fernando Valley and this project provides much-needed supply to meet the high demand, particularly among those seeking space near the Providence Cedars-Sinai Tarzana Medical Center,” said Scott Romick, managing director and principal of Lee & Associates – LA North/Ventura. “As a full building renovation of everything from the façade to all-new contemporary interiors and tenant community lounge areas, this property will be a magnet for medical professionals seeking an excellent location with a variety of amenities nearby.”
The new $624 million Providence St. Joseph and Cedars-Sinai redevelopment project, which is located just 1.5 miles away, is expected to be completed in 2023.
Romick and Eugene Kim with Lee & Associates/LA North Ventura are handling leasing.
About Greenbridge Investment Partners
Greenbridge is a full-service, commercial real estate firm dedicated to providing transparent, proactive solutions that leave positive and profitable outcomes for all our stakeholders. It specializes in the ownership, property management, leasing, construction, and turnaround of value-add and core-plus properties so they reach their highest potential of becoming “best in class” properties. For more information, visit www.greenbridgemgmt.com
About Lee & Associates – LA North/Ventura, Inc.
Celebrating 40 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada. Lee & Associates-LA North/Ventura, Inc. provides industrial, office, retail, and multifamily/investment and development land brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. For more information, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.
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