Optimus Properties, LLC Purchases Ventura Corridor Office Building

Investment firm Optimus Properties bought a 10-story medical office tower in the San Fernando Valley, scooping up a property next door to a $500 million hospital expansion.

Century City-based Optimus paid $22 million for the 85,000-square-foot property. Called Tarzana Tower, the building is located at 18321 Ventura Boulevard. Janet Neman of Kidder Matthews represented Optimus in the off-market deal. Optimus plans to reposition the property, Neman said.

The seller was entities operated by Shahram Ray Golbari, attorney Michael Vivoli, and Dr. Parham Minoo.

Providence Tarzana Medical Center, which is next door, partnered with Cedars Sinai Medical Center on a $540-million expansion and renovation that is scheduled to be complete by 2022.

Ventura Boulevard is one of the more active corridors in the Valley. Earlier this year, a retail landlord filed plans to convert a corner strip mall into an office complex about two blocks from Tarzana Tower. Next to that, TriStar Realty Group is planning a 97-unit assisted living and health club complex. Also nearby, another developer is planning a 114-unit multifamily project.

Elsewhere in Tarzana, A&M Capital Real Estate is set to redevelop a 4-acre industrial site into an upscale office campus with nearly 100,000 square feet of space.

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Optimus Properties, LLC Purchases Office Building in Winnetka

LOS ANGELES – March 31, 2017 – An affiliate of Optimus Properties, LLC has completed the acquisition of an approximately 35,500 square foot office building located in Winnetka.  The Victorian style building, located at 19717-19725 Sherman Way, is between Corbin and Quartz Ave, just outside the City of Reseda.  The building consists of three floors, a subterranean parking lot as well as a lot behind the building. 

“We have been searching for property in the San Fernando Valley for a long time, and we are very excited to purchase this uniquely designed office building and get a foothold in the area.” said Joseph Shabani, a principal of Optimus Properties, LLC.

The building was built in 1982 and renovated in 2013 & 2014.  No significant renovations are required, and Optimus intends to repair deferred maintenance items and lease up the vacant units.

“The Property’s unique design is desirable to office tenants in the area, and the high percentage of historical occupancy in the building and immediate cashflow the building provides were the primary determinants in our purchase decision.” said Kamyar Shabani, a principal of Optimus Properties, LLC.

Optimus Properties, LLC, located in Los Angeles, California, was founded by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation in office, retail, office and medical office properties throughout Los Angeles.

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Optimus Properties Sells Multi-Tenant Retail Asset in Los Angeles

LOS ANGELES — An affiliate of Optimus Properties has completed the disposition of a retail building located at 8036-8038 W. Third St. in Los Angeles. Terms of the transaction were not released.

Built in 1946, the property features 2,200 square feet of retail space and 12 parking spaces. At the time of sale, the building was fully occupied by The Osso Good Co., a maker of bone broth and paleo soups; I Love Nails, a nail salon; and Shampoo, a hair salon.

Optimus Properties Sells 16,000 SF Office Building in West Los Angeles

LOS ANGELES — An affiliate of Optimus Properties has completed the sale of an office building located at 864 S. Robertson Blvd. in West Los Angeles. Terms of the sale were not disclosed.

Originally built in 1956 and renovated in the 1980s, the 16,000-square-foot property features three floors, parking and several rooftop patios. Optimus completed improvements on the interior and exterior, including modernization of the entrance, lobby, common areas and new, ADA-compliant bathrooms.

Torrance Office Building Sells for $15.75M

Optimus Properties, LLC Sells Highland Park Retail Property

LOS ANGELES – Optimus Properties, LLC, through an affiliate, has completed the sale of a two store front retail property on North Figueroa Blvd., in Highland Park, for $658 a foot.  North Figueroa is Highland Park’s main artery. Optimus extensively renovated the property.  The property is currently leased to The Bearded Beagle, a clothing store […]

Optimus Properties, LLC Sells Koreatown Apartment Building

LOS ANGELES – Continuing its torrid pace of transactions, Optimus Properties, LLC, through an affiliate, has completed yet another sale; this one of a 36 unit apartment building located in Koreatown.  The building, located at 511 South Rampart Avenue, was originally purchased in May 2015.  Optimus purchased the property while the property was in extremely dilapidated condition with many outstanding orders to comply from the housing department.  Optimus spent three months and $750,000 to renovate the building and make it a livable building for its tenants.

After Optimus purchased the property, it immediately tented the building to address pest control issues.  It then installed a new roof, corrected structural defects, installed new LED lighting in the hallways, improved many of the units with new kitchens, bathrooms and fixtures and upgraded the security and landscaping.

The property was sold to a private investor based in Los Angeles.

Optimus Properties, LLC, located in Los Angeles, California, was founded by Kamyar Shabani and K. Joseph Shabani and employs a disciplined investment approach focused on value creation in office, retail, office and medical office properties throughout Los Angeles.