Property Rams were eyeing in Woodland Hills sells; buyer still unknown
The property in Woodland Hills rumored to be the Los Angeles Rams’ future team headquarters and practice facility sold to “a group of private investors” for $150 million, according to the seller’s real estate broker.
Unibail-Rodamco-Westfield, a commercial real estate company headquartered in Paris, announced March 15 that it sold the 34-acre site of the former Promenade shopping mall in the San Fernando Valley. The buyer remains unnamed as of March 17, but the 2022 Super Bowl champions were reportedly in negotiations to purchase the site.
Chase Isaacs, the Rams’ corporate communications manager, told the Business Times on March 17 the team “won’t provide a comment.”
In late February, the Los Angeles Times reported the Rams were considering the former mall property, located at the corner of Topanga Canyon Boulevard and Oxnard Street, for a training site and headquarters.
The team currently practices at California Lutheran University in Thousand Oaks and its headquarters is in Agoura Hills. The California Lutheran spot was meant to be temporary, though the team has committed to staying at least another full season.
The city of Thousand Oaks has made finding the Rams a new home in town one of its top economic development priorities. In an email to the Business Times after news of the Woodland Hills sale, City Manager Andrew Powers said that because any new development would take years, he remains “optimistic that the team will continue to reside in town for several more seasons.”
“We’re confident the strong connections built in Thousand Oaks will continue for years into the future,” he said.
In the URW news release on March 15, the company said it recently completed the city’s planning and development process for the property, securing approval for a 3.2 million-square-foot mixed-use development.
The Rams have practiced on the CLU campus since 2016, when the team returned to Southern California following 20 years as the St. Louis Rams. Karin Grennan, CLU’s media relations manager, said in an email to the Business Times that she didn’t think it would appropriate to comment “on unidentified investors buying a site in Woodland Hills or on speculation that the Rams are the ones who purchased it.”