California Resources Corporation Signs Long-Term 42,051 SF Lease at 9200 Oakdale Avenue Through Savills Studley

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Company to relocate headquarters from Westwood to Chatsworth

CRC had clear goals to be in a first-class environment with easy access to its oil fields making West Valley Corporate Center an excellent match.

In an important L.A. office move, California Resources Corporation (CRC), an independent oil and gas exploration and production company operating properties exclusively within the state of California, has signed a 42,051 square-foot lease for their Los Angeles office in the West Valley Corporate Center located at 9200 Oakdale Avenue in Chatsworth. The transaction was brokered by the leading global commercial real estate services firm, Savills Studley.

Located near I-405 and Routes 101 and 118, the West Valley Corporate Center features a 10-story, class A office building with a fountain courtyard, secured underground executive parking, marble interior walls and granite floors in the lobby, and a large, exterior balcony on the 9th floor with exceptional views of the San Fernando Valley. CRC’s Los Angeles office will relocate part of its workforce from the Occidental Center at 10889 Wilshire Boulevard in Westwood to its new offices in the early part of 2015, where they will occupy the 9th and 10th floors of the building.

The relocation was arranged by Savills Studley’s West Coast and East Coast offices including Steve Walbridge, David Gordon, Ian Zilla, and Jesse Danzig represented the tenant in the 7-year transaction, while Michael Danielpour and his leasing team, Jim Lindvall and Dan Sanchez of JLL, represented the landlord, Omninet West Valley LP.    

Upon closing the transaction, Mr. Walbridge commented: “CRC had clear goals to be in a first-class environment with easy access to its oil fields making West Valley Corporate Center an excellent match.”

California Resources Corporation, California’s largest independent oil and natural gas producer, has over 2,000 employees and operates in each of California’s four major oil and natural gas basins.

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 26 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 27,000 professionals and over 600 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

For more information, please visit http://www.savills-studley.com and follow us on Twitter @SavillsStudley and LinkedIn.

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Erin Holin
Savills Studley
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