WESTLAKE VILLAGE, CA - - A view oriented, Class A two-story office building occupying a four-acre site in Westlake Village, CA has been acquired by a local investor for $6.55 million, announces Westcord Commercial Real Estate Services.
Tony Principe, president of Westlake Village-based Westcord, reports that Toth Properties of Westlake Village purchased the 40,000 sq. ft. office building located at 5716 Corsa Ave. Principe said the building is 75 percent occupied. Debt Recovery Services is the primary tenant.
Principe represented both Toth Properties and Helen Williams of Santa Barbara, the seller.
The new owner plans to initiate key cosmetic upgrades at the building, Principe reports.
"This is a Class A office building underscored by high-end improvements already in place. Some of the remaining space, for example, was formerly occupied by a law firm that included improvements in excess of $60 per square foot. There was strong interest in the property because this was a very good deal for a Westlake Village office building, even with the existing vacancy," said Principe.
The Corsa Ave. office building is a poured-in-place concrete structure featuring a marble lobby, elevator service and four per 1000 parking.
Westcord is one of the Los Angeles area¹s top 25 commercial real estate companies with offices in Westlake Village, CA, and Van Nuys, CA.
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