A 44-acre, mixed-use campus in the San Fernando Valley is up for sale with a hefty price tag.
Shubin Nadal Realty Investors and New York-based DRA Advisors are selling the Mix at Harman Campus — a 761,000-square-foot complex at 8500 Balboa Boulevard in Northridge –– with a guiding price of around $250 million, according to Real Estate Alert. Newmark is marketing the property for sale. Neither Shubin Nadal nor DRA Advisors responded to requests for comment.
At $250 million, the complex would fetch around $328 per square foot.
DRA and Newport Beach-based Shubin Nadan have spent $30 million to renovate the property since 2016. The firms bought the property for an undisclosed sum in 2014, records show.
The complex –– a mix of industrial, office, life science and retail space –– is currently 74 percent leased.
Harman — an audio electronics firm that was acquired by Samsung in 2017 — occupies around 164,000 square feet at the complex. It signed a new lease last year.
Amazon occupies around 81,000 square feet, though its lease is set to expire in the next year, and its long-term plans are unclear.
If the deal closes at around $250 million, it would be one of the more expensive office campuses that have sold in Southern California in recent months. The only two deals higher than that price point last year were both studio real estate — Brookfield’s $327 million DreamWorks Animation campus in Glendale and Hackman Capital and Square Mile’s purchase of the CBS Studio Center in Studio City for $1.85 billion.