Encino Plaza Update

Wednesday, April 22, 2009
The Department of Building and Safety has issued the temporary electrical permits and inspections for the Encino Corporate Plaza today. This has allowed the three remaining inspections to be scheduled for tomorrow, Thursday, April 23. Once these inspections are passed the building engineers will verify that the buildings systems are ready to support the reentry of tenants. If these inspections and verification of systems all pass tomorrow then, Encino Corporate Plaza, will be open for tenant occupancy on Friday, April 24, 2009.

We sincerely apologize for the inconvenience which this situation may have caused, and are empathetic to your concerns and frustration. We thank you for your continued patience, and are working to get everything operational as soon as possible. Milbank’s website (http://www.milbankre.com/) will be updated as to the status of the building, attempts to restore power to the building, and information regarding occupancy of the office suites. Building tenants may also call Milbank’s office at (818) 789-0789 for any further information. Tenants may also provide their email address, so updates can be sent directly to email.

Tuesday, April 21, 2009
Milbank employees and staff have been working around the clock to get power services restored to the building. Our primary goal has been to provide access for our tenants, so that they may return to their offices and resume their work schedule, as soon as possible. Any other issues which may exist, will be handled after access has been granted. As a courtesy, Milbank is providing back up batteries and battery operated phones for tenants to access their computers or telephone lines. Please note however, that this is a temporally solution, and supplies are limited, so they will be made available for use on a first come, first served, basis.

We have continually been working with City engineers and inspectors, as well as other private companies, to help facilitate the process in the most expedient manner possible. Identifying the source of the fire has been a difficult task, as it seems that it may have originated from the City of Los Angeles Department of Water and Power’s own equipment (which they separately maintain and must restore in accordance with their own process and policies). Various constraints and requests from the City have also caused the reopening of the building to be delayed, and unfortunately, those delays are beyond our control. We currently do not have an estimated date of tenant occupancy.

We sincerely apologize for the inconvenience which this situation may have caused, and are empathetic to your concerns and frustration. We thank you for your continued patience, and are working to get everything operational as soon as possible. Milbank’s website (http://www.milbankre.com/) will be updated as to the status of the building, attempts to restore power to the building, and information regarding occupancy of the office suites. Building tenants may also call Milbank’s office at (818) 789-0789 for any further information. Tenants may also provide their email address, so updates can be sent directly to email.

Monday, April 20, 2009
We are pleased to announce that we are making swift progress in allowing for temporary power to be established at Encino Corporate Plaza, so that we may proceed with the reopening of the building. Based on various requirements, and the additional work requested to be done, we are told that temporary power will be available by Tuesday, April 21, 2009. If the office facility passes the necessary inspections at that time then we anticipate opening the building for tenant occupancy on Wednesday, April 22, 2009. We thank you for your continued patience, and are working to get everything operational as soon as possible.

Milbank's website (http://www.milbankre.com/) will be updated as to the status of the building, attempts to restore power to the building, and information regarding occupancy of the office suites. Building tenants may also call Milbank's office at (818) 789-0789 for any further information.


Tuesday, April 14, 2009
Insurance representatives and inspectors from various City departments are assessing the damage caused by Monday’s fire at Encino CorporatePlaza. It is anticipated that temporary power will be available by Friday, April 17, based on concurrence among inspectors that the building is ready for testing. If the office facility passes Friday’s inspection, it is anticipated that it will be ready for tenant occupancy on Monday, April 20.

Milbank’s website (http://www.milbankre.com/) will be updated as to the status of the building, attempts to restore power to the building, and information regarding occupancy of the office suites. Building tenants may also call Milbank’s office at (818) 789-0789 for any further information.


Monday, April 13, 2009
At approximately 1:00 PM, a fire broke out at Encino Corporate Plaza, a 10-story office building located at 16661 Ventura Boulevard. The building’s sprinkler system activated immediately and extinguished the fire. All tenants and occupants were evacuated safely, and there were no injuries reported. The office building is currently without power, and the Fire Department is investigating the cause of the fire.

“We are pleased that our tenants were evacuated quickly and without incident, and that the building’s sprinkler system swiftly and successfully put out the fire,” said Solyman Yashouafar, Chief Operating Officer of Milbank Real Estate Services, Inc., who has its offices in the building. “Our thanks to the Fire Department for their rapid response, and working diligently to assess the cause of the fire.”

Milbank’s website (http://www.milbankre.com/) will be updated as to the status of the building, attempts to restore power to the building, and information regarding occupancy of the office suites. Building tenants may also call Milbank's office at (818) 789-0789 for any further information.

Raymond Yashouafar
Vice President, Operations
ryashoua@milbankre.com