Lee & Associates Arranges Los Angeles Office Sale
Principals Jay Rubin and Scott Silverstein represented both parties in the transaction. The new owner intends to reposition the 50,234-square-foot Marin Corporate Center as a Class A medical office asset.
Marin Corporate Center. Image courtesy of Lee & Associates
CGI Strategies has acquired Marin Corporate Center—a 50,234-square-foot office campus in Thousand Oaks, Calif.—according to Yardi Matrix data. Jamison Services sold the asset for $9.3 million. Principals Jay Rubin and Scott Silverstein from Lee & Associates worked on behalf of both parties and have been selected to lease the property.
Located at 501-509 Marin St. in the Thousand Oaks submarket of Ventura County, the property is within walking distance of Janss Marketplace and The Oaks Shopping Mall, as well as close to plenty of residential properties. The two-building campus was 50 percent leased at the time of sale. According to Rubin, the new owner intends to renovate and reposition the asset to Class A medical and office use. Renovation plans include both the interior and exterior.
Recently, another team from the same brokerage company represented the seller in a 1031 exchange retail transaction in Lake Forest, Calif. A private family spent $4.5 million for a roughly 10,000-square-foot asset.
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