This property is Off-Market

19809 Prairie Street
Chatsworth, CA 91311 ·

89,971 SF · Office For Sale

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19809 Prairie Street

Price N/A Building Class A
Building Size 89,971 SF Tenancy Single
Property Type Office Year Built 1992
Property Sub-type Office Building Lot Size 2.49 AC
Property Use Type Investment APN / Parcel ID 2761-040-023
Occupancy 100% Parking Ratio 3 / 1,000 SF
No. Stories 2
Listing ID: 14556691 Date Created: 03/27/2006 Last Updated: 06/13/2006

Description

Institutional quality office building in an attractive master-planned park environment with free predominantly structure parking. 19809 Prairie is utilized as the Employee Service Center Building for Washington Mutual s campus. It is a central component to Washington Mutual s significant presence in Chatsworth. The building includes various special improvements including the employee cafeteria, an exercise facility, and various meeting rooms. 19809 Prairie is immediately adjacent to the focal point of Washington Mutual s Chatsworth campus, West Valley Corporate Center (aka WAMU Tower ). Lease commitments for Washington Mutual in this tower extend until 2011. 19809 Prairie provides a convenient location for employees of the Tower to easily access 19809 Prairie s essential functions. Attractive modern design, two story building with attractive two-story atrium lobby, 9-foot ceilings, structured parking, large efficient footplates, and an outdoor garden patio.

Centrally located in the San Fernando Valley and easily accessible by three major freeways: the 405 Freeway, the 101 Freeway, and the 118 Freeway. Approximately 1.3 million people live within a 10 mile radius of Chatsworth, providing Washington Mutual and other San Fernando Valley employers at this location with excellent access to a tremendous labor pool. 19809 Prairie is located within one mile of both the largest shopping mall in San Fernando Valley, the Northridge Fashion Center, as well as the Northridge Metrolink Station. Additionally, there is a Los Angeles County Courthouse within walking distance and California State University Northridge is approximately 2 miles away. Tenants are drawn to the area for convenient access to executive and moderately priced housing alternatives, proximity to a massive diverse labor pool, comparatively less traffic congestion, and a high quality of life. This contributes to the relatively large size of the typical Los Angeles North tenant when compared to many other Los Angeles submarkets, and is central to the reason Washington Mutual and other large companies office in the Los Angeles North market.

Highlights

  • 100% Washington Mutual leased, single tenant, triple net leased fee simple office investment opportunity.
  • • Washington Mutual (Standard & Poor’s rated “A”) provides superb credit on a lease which expires in December 2009 with 2, 5 year options to extend.
  • Attractive triple net lease with annual 3.5% fixed bumps and a fixed 3% management fee reimbursement.
  • Available at an attractive discount to replacement cost in a mature infill area with tremendous physical and economic barriers to entry.
  • Extremely healthy 7.3% current vacancy rate in the Los Angeles North market.

Research

19809 Prairie Street, Chatsworth, CA 91311 (Los Angeles County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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