Construction has begun on Ventana Medical Plaza, an 112,500-square-foot medical office project in Tarzana.
The four-story building on the northwest corner of Ventura Boulevard and Lindley Avenue is being developed by TriStar Realty Group LLC of Pacoima and is expected to be complete in 2016.
It will feature a pharmacy and a parking structure with valet parking, and is 70 percent preleased, according to the downtown L.A. office of Johnson Capital, a commercial real estate capital advisory firm that arranged the construction loan.
One of the major tenants will be RadNet Inc., a Los Angeles operator of outpatient imaging centers that has more than 250 locations nationwide. RadNet has attracted other oncology groups and specialists as tenants.
“Due to the location of the project, its pre-leasing status the project came together after a lot of patience and hard work,” said Geoffrey Arrobio, senior vice president with Johnson, in a statement.
The 2.5-acre project broke ground on Wednesday. It received a $32.3 million construction loan from a national bank and a Hong Kong-based lending institution, according to Johnson Capital. C.W. Driver in Pasadena is the general contractor.