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Haven Warner Center
Los Angeles, CA
Built in 1985
- PROVEN VALUE-ADD & LEVERAGING PRIOR ENHANCEMENTS - Property has received approximately $2.6M in capital improvements over the last 3 years positioning it as a luxury asset in Warner Center
- Located in the San Fernando Valley, the second-largest economy in Southern California. Residents have access to roughly 60,000 jobs locally and over one million jobs within a 30 minute commute
- STRONG DEMOGRAPHICS - Average household incomes are nearly $150,000 which is more than 7.2x the average annualized current rent at Haven Warner Center leaving significant runway for future rent growth
- TRANSFORMATIONAL PROJECTS WILL DELIVER ON THE WARNER CENTER DREAM - Warner Center's growth continues to be driven by the 2035 Specific Plan. The submarket already has over 10 million square feet of office and flex space and there is over $7 billion of proposed developments such as Uptown Warner Center, Westfield Promenade, and Warner Center Corporate Park that will add millions of square feet of new office, hospitality, entertainment, and open space.
- RENT GROWTH PROJECTIONS ARE OFF THE CHARTS - The Warner Center submarket continues to be resilient as new housing is added to the market. Rent growth has averaged 3.2% annually over the past 10 years with rents projected to grow by 6.7% annually over the next 5 years and 14.25% over the next year alone. Net absorption has consistently remaining positive in 8 of the last 10 years and is projected to be positive each of the next 5 years.