CAMARILLO, CA -- An Early California-styled, two-story office
building with immediate access to Camarillo's prime Paseo Camarillo business district has
been acquired by a Malibu investor for $2.5 million with plans for substantial renovation
of the property, announces Westcord Commercial Real Estate Services.
Tony Principe, executive
vice president of Westlake Village, CA-based Westcord, reports that 333 N. Lantana LLC
purchased the 37,000 sq. ft. office building located on approximately two acres of land at
333 N. Lantana St., Camarillo, within a master planned commercial complex. Principe
represented the buyer and has been named exclusive marketing agent for the renovated
building. The Carpenters Pension Fund was the seller.
Principe said the new owner
will invest approximately $500,000 in the office building that features open courtyards,
an abundance of windows, a stucco facade and red tile roof. Renovations, scheduled
for completion by the end of November, will include upgrading of all common areas and
generous allowances for tenant improvements.
The property is distinguished by a colorful arched bridge spanning a two-lane road
connecting to a variety of retail services, and is also immediately across the Ventura
Freeway from the popular Camarillo Outlet Mall.
Reporting that the building
is 65 percent occupied by 22 tenants, primarily in the professions, Principe said space is
available from 500 to 14,000 sq. ft. at $1.35 per square foot gross. On-site
parking is provided in the ratio of four spaces per 1000 sq. ft. of building space.
Westcord is one of the Los Angeles area's top 25 commercial real estate companies with
offices in Westlake Village, CA, Van Nuys, CA, and Lancaster, CA.
Another office will open
soon in Valencia, CA. |
