Omninet Capital has acquired a 136,744-square-foot, three-building office property in Oxnard, Calif. Newmark Knight Frank represented the seller of Solar Drive Business Park, EQ Office.
Located at 1901, 2001 and 2051 N. Solar Drive, the asset is in a prominent medical node in Ventura County, within an opportunity zone. St. John’s Regional Medical Center, Magnolia Family Medical Center and Kaiser Permanente are all within a mile of the property. Several retail options are close to the office park, including Shopping At The Rose, which is a mile from Solar Drive.
Built in 1989, the business center includes 500 parking spaces, with a parking ration of four per 1,000 square feet. Solar Drive is 75 percent occupied by medical and office tenants. Recently, the former owner invested $1.8 million in capital improvements, including build-out of the vacant suites, according to NKF Executive Managing Director Sean Fulp.
Fulp, together with Managing Director Ryan Plummer, Director Mark Schuessler and Executive Managing Director Ken White were part of the team that worked on behalf of EQ Office. In October, Fulp and White also represented the seller of a 306,243-square-foot office tower in the LAX submarket. The asset was acquired by a joint venture led by North Sea Capital Advisors.