Rams owner Stan Kroenke buys a Warner Center office tower

Rams owner Stan Kroenke has acquired a high-rise office building in Woodland Hills near an old shopping center he purchased a few months ago, strongly suggesting that the billionaire businessman wants to build a second such sports-focused development around the SoFi Stadium.

Kroenke’s two locations in the vicinity of Center Warner are slated to become part of a broad-use complex that could include shops, restaurants, hotels and residences, along with training facility for the Super Bowl winning team.

Kroenke purchased the office building on Oxnard Street on Friday, Kroenke Corporation confirmed. The company did not disclose how much Kroenke paid for the building and surrounding land.

However, real estate sources close to the agreement, who spoke on condition of anonymity, said he paid about $175 million for the property, which was last seized by health insurer Anthem Inc.

The 13-story tower sits on a 25-acre site that’s ripe for growth as Los Angeles officials push to make the Warner Center a more vibrant urban environment where people live, work, and live. , shopping and entertainment.

Neighborhood-specific plans passed in 2013 promote the construction of homes, shops and restaurants – like a welcome mat for builders. And large-scale mixed-use projects have been and are being implemented.

While the Kroenke Group has yet to publicly acknowledge any development plans in Woodland Hills, the company is expected to build a scaled-down version of its SoFi sports campus in Inglewood, with team headquarters. , training facilities and fields, along with non-football commercial developments.

When Kroenke’s vision of the SoFi Stadium complex is completed, the football arena will be surrounded by a complex three and a half times the size of Disneyland with a performance venue, hotel, shops, restaurants, offices, houses and a lake with waterfalls.

At Warner Center, Kroenke acquired the former Woodland Hills Promenade shopping center for $150 million in March. The city supports the development of apartments, offices, hotels and a sports and entertainment center on the premises. It sits across from busy Owensmouth Avenue from the old Anthem property Kroenke just bought.

John M. Walker, president of the Woodland Hills Owners Organization, said the latest purchase gives Kroenke about 65 acres. “It is very large.”

Walker hopes Kroenke’s company will come up with a new land use design that includes the entire site. His home team is supportive of the improvements at the Warner Center but will push ahead with any proposed developments that address noise and traffic control ways, such as freeway widening. and widen the street.

“It is extremely exciting that the Kroenke Corporation has acquired old Anthem locations, expanding their future footprint at Warner Center,” said LA City Councilman Bob Blumenfield. “While many details remain to be worked out, I am delighted that the Rams are looking to build their new home in the West San Fernando Valley, and I look forward to working closely with them on this project.”

Among the prominent neighbors to the Kroenke property are the Warner Center Towers office complex, the Westfield Topanga & the Village regional shopping center and a hotel, the Warner Center Marriott Woodland Hills.

Projected additions to the neighborhood include a proposed $1 billion complex on Warner Center Lane with offices, shops, restaurants, residential, and a hotel that will replace Replaces an office park from the 1980s. It will feature parks and open spaces for pedestrians.

https://www.latimes.com/business/story/2022-06-06/rams-buy-warner-center-office-tower-does-stan-kroenke-plan-sofi-stadium-like-development Rams owner Stan Kroenke buys a Warner Center office tower

Edmund DeMarche

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