J.S. Rosenfield & Co. has submitted plans to renovate a two-story, roughly 41,000-square-foot commercial building in Tarzana at the southwestern corner of Ventura Boulevard and Shirley Avenue, a new planning case opened by the city of Los Angeles shows.
Currently a occupied by U.S. Bank, the building would undergo a change of use from just General Office to both Medical Office and General Office, according to project plans. Plans also call for renovations to the building’s exterior facade, landscaping, elevator, and other improvements.
The project would also increase the site’s number of surface parking spaces from 99 to 105 by eliminating drive-thru ATM lanes at the property, which also currently holds 41 underground parking spaces.
The owner of the building is Greenbridge Investment Partners, which acquired it for about $5.6 million in 2014, according to Los Angeles County property records. Greenbridge Principal Fareed Kanani told What Now Los Angeles that the project will cost more than $8 million.
“We want to make it the nicest project on Ventura Boulevard going from Studio City all the way to Woodland Hills,” Kanani said. “We want it to be a marquee project.”
Along with possible technology tenants, Kanani said the team is looking to make the project appealing to medical office tenants attracted to the area, citing the growth of nearby Providence Cedars-Sinai Tarzana Medical Center. It will also work on a possible lease extension with U.S. Bank, which has expressed interest in staying, he said.
A rendering shows a retail or food-and-beverage tenant such as a cafe could occupy the revamped property’s ground floor.
Also involved in the development is national design firm HED, which is the project’s design architect, as well as project representative Nicole Kuklok-Waldman, founder and CEO of Collaborate. The landscape architect is SALT Landscape Architects.
