Medical Offices for Lease After Conversion

Investor Dr. Andrew Brooks announced last week that renovations of Westlake Village Medical Campus, a three-building property spanning 85,000 square feet, have been completed.The Westlake Village site, located at 696 Hampshire Road, has several tenants at the moment, anchored by Cedars Sinai Medical Center.Real estate brokerage Jones Lang LaSalle Managing Director Bryan Lewitt and Chris Isola lead the leasing efforts at Westlake Village Medical Campus, which can accommodate a variety of size requirements for up to 33,500 square feet.As Lewitt explained, two of the buildings started out as “basic multi-tenant office and the other was an industrial office building.”He said that the conversion to medical unfolded across the past decade.“All the buildings were gutted and were improved extensively,” Lewitt said. “The Hampshire building is now equipped with a state-of-the-art four operating room out-surgery center. The building also has recovery suites for overnight stays.”One of the structures, 143 Triunfo Canyon Road, is a 25,000-square-foot stand-alone two-story building that is completely renovated and ready for tenant improvements.

“The 141 Triunfo building is also 100 percent medical with UCLA Healthcare as the anchor. The space is used for internal medicine and other diagnostic uses,” Lewitt continued.Lewitt believes that this is just the beginning for product catering to the medical sector.“Since the start of 2021, we have seen increased demand for medical space in the Westlake Village and Thousand Oaks area,” Lewitt said. “As the health care industry continues to expand into the suburbs, we expect to see more sub-specialties expand into the Westlake Village submarket.”The owner spent more than $30 million on improvements on the trio of buildings.