By Razvan Cimpean
Working on behalf of Equity Office Properties Trust, NKF Capital Markets brokered the sale of a 133,000-square-foot office building in Westlake Village, Calif. TH Real Estate purchased the 91 percent-leased asset.
The two-story building, located at 30700 Russell Ranch Road on an 8.7-acre site, was completed in 2000. Tenants include Move, Regus and Realtor.com. The property features more than 500 parking spaces and is situated next to Shoppes at Westlake Village. The office building offers convenient access to multiple restaurants and hotels, including Los Agaves, Lure Fish House and Hampton Inn & Suites Agoura Hills.
NKF Capital Markets’ Kevin Shannon, Sean Fulp and Brad Burton negotiated the sale on behalf of the seller, while the buyer represented itself. Recently, Shannon also brokered the sale of a 311,000-square-foot Irvine office tower.
According to Yardi Matrix data, Equity Office acquired 30700 Russell Ranch Road in 2015 from GE Capital Real Estate as part of a multi-state, $3.3 million portfolio sale. The deal incorporated about 15 million square feet of office space, 1.1 million square feet of industrial space, nearly 153,000 square feet of retail space, almost 70,000 square feet of residential space and 216,000 square feet of hotel space.
Image courtesy of Yardi Matrix