Weyerhaeuser Mortgage Co., in one of the largest office-space leases in the history of the San Fernando Valley, has leased more than 100,000 square feet in the first phase of Trillium in Woodland Hills.
The lease will involve a minimum of six floors in the 17-story office building scheduled to open late this month and is valued in excess of $28 million, according to Trillium joint-venture partners Norman J. Kravetz and Dan Terheggen of Kravetz/Terheggen Partners, and John F. Lewis and Rayman Meglio of Fischbach Woodland Hills Properties Inc.
In a move expected to take place in October, Weyerhaeuser will consolidate its corporate offices, the executive offices of Republic Federal Savings & Loan and the Income Property Division, according to Jack Wise, president and chief executive officer of Weyerhaeuser Mortgage Co.
Need to Consolidate Operations
"When we open the building, Trillium Phase I will have a minimum of 60% of its space leased," according to Allen D. Trowbridge of the Faulkner Co.'s Woodland Hills office, exclusive leasing agents for the $165-million, eight-acre project on Canoga Avenue between Erwin Street and Victory Boulevard. The Faulkner Co. represented both parties in the Weyerhaeuser transaction.
Wise said the choice of Trillium for Weyerhaeuser's new Southern California headquarters was based on the need to consolidate various offices, as well as the location and amenities offered in the mixed-use development. He noted that the firm has been in Warner Center for eight years.
Other tenants in the first Trillium tower will include the corporate headquarters of Amwest Insurance Group Inc., the West Valley office of Arthur Andersen & Co., the law offices of Sabo & Deitsch and the corporate headquarters of Kravetz/Terheggen Partners.
The $60-million, 300,000-square-foot office tower, designed by the Landau Partnership Inc., Santa Monica, is part of a development that includes a $50-million second-phase office tower and a third phase consisting of a $55-million hotel. Construction is expected to begin on the hotel by the end of the year. It will be operated by U. S. Hotel Properties and Getty Financial.
The refurbished Warner Center Club, with its center court tennis stadium seating 3,400, will form the nucleus of the project's recreational amenities when it is completed in October. Six tennis courts will be featured, with six more in the third phase of the development.
Moran Construction Co., Alhambra, is the general contractor of Trillium. First Interstate Mortgage Co. is providing financing. The landscape architect is P.O.D Inc. of Santa Ana.