Encino Medical Tower, a 48,590 square foot office building that last traded in 2021, is back on the market. A listing for the property from Coldwell Banker Commercial NRT Beverly Hills shows the property is offered at $14.5 million, or approximately $298 per square foot.
The building is located at 17835 Ventura Blvd. on two parcels totaling 1.2 acres. The building stands three stories and has undergone a conversion to allow for 82 percent of its total square footage to be used as medical office space. The average unit size is 1,970 square feet with the largest unit 4,285 square feet, according to marketing information for the property. Current tenants at the property include Apposite Technologies, First Century Insurance, Vartanyan Chiropractic and several others.
The Encino Tower has also undergone various upgrades throughout, including renovated common areas, brand new entry door security with access cards, brand new lighting in common areas, a brand new lobby and more.
Located along Ventura Boulevard, the property sits opposite numerous retail amenities as well. Providence Cedars-Sinai Tarzana Medical Center is also a short commute from the office building and Interstate 101 is located just north of the site.
The property last traded in the third quarter of 2021, according to previous reporting from The Registry. At the time, the property was purchased for $12.9 million, or about $267 per square foot, by Encino Towers LLC, an entity associated with Kaysan Ghasseminejad, which also shares an address with California Community Hospice Care. The property was sold by Los Angeles-based Elat Properties Investments and Development.