{"id":1004635898,"date":"2022-12-16T13:30:43","date_gmt":"2022-12-16T21:30:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004635898"},"modified":"2022-12-16T13:30:45","modified_gmt":"2022-12-16T21:30:45","slug":"hrl-laboratories-pays-40m-for-southern-california-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hrl-laboratories-pays-40m-for-southern-california-asset\/","title":{"rendered":"HRL Laboratories Pays $40M For Southern California Asset"},"content":{"rendered":"
\"\"<\/a>

3500 Willow Lane. Image courtesy of Lee & Associates LA North\/Ventura<\/p><\/div>\n

HRL Laboratories<\/strong> has purchased a 104,267-square-foot industrial property in Thousand Oaks, Calif., for $39.8 million. The buyer, formerly known as Hughes Research Laboratories, is a company specializing in advanced technology developments, owned by Boeing and General Motors Co<\/strong>.<\/p>\n

The seller was Willow Hurst LLC, an entity leading to Maxxam Enterprises<\/strong>. The property last traded in 2021 for $19.7 million, Ventura County records show.<\/p>\n

Lee & Associates LA North\/Ventura<\/strong> worked on behalf of Willow Hurst, while Mazirow Commercial<\/strong> represented HRL Laboratories.<\/p>\n

Located at 3500 Willow Lane in Conejo Valley region, the two-story concrete building was completed in 1986 and includes 355 parking spots. Situated on a 5.5-acre lot, the property is 5.6 miles from Newbury Park, Calif., 8 miles from Oak Park, Calif., and within 15 miles of Calabasas, Calif., an area that sustains the life science sector’s continued growth.<\/p>\n

Lee & Associates LA North\/Ventura’s office negotiated an early lease termination to allow the new owner to move into the building. The company\u2019s President Mike Tingus and Managing Director & Principal Grant Fulkerson worked on behalf of Maxxam Enterprises.<\/p>\n

Other notable Southern California transactions that closed earlier this year include Rexford Industrial’s $163.8 million purchase<\/a> of four properties totaling more than 412,730 square feet of industrial space. In September, the same company acquired an infill asset in the Carson submarket, in a $100 million off-market deal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mazirow Commercial represented the company in the acquisition, while Lee & Associates LA North\/Ventura represented the seller.<\/p>\n","protected":false},"author":2991,"featured_media":1004635899,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1594,21742,15],"tags":[33192,32762,37672],"class_list":["post-1004635898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-general-motors","tag-lee-associates","tag-the-boeing-company"],"acf":[],"yoast_head":"\nHRL Laboratories Pays $40M For Southern California Asset - CPE<\/title>\n<meta name=\"description\" content=\"HRL Laboratories, a company owned by Boeing and General Motors Co., paid $39.8 million for an industrial property in Thousand Oaks, Calif.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hrl-laboratories-pays-40m-for-southern-california-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HRL Laboratories Pays $40M For Southern California Asset\" \/>\n<meta property=\"og:description\" content=\"HRL Laboratories, a company owned by Boeing and General Motors Co., paid $39.8 million for an industrial property in Thousand Oaks, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hrl-laboratories-pays-40m-for-southern-california-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-16T21:30:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-16T21:30:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Picture1-2-e1671204622938.png\" \/>\n\t<meta property=\"og:image:width\" content=\"611\" \/>\n\t<meta property=\"og:image:height\" content=\"458\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hrl-laboratories-pays-40m-for-southern-california-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hrl-laboratories-pays-40m-for-southern-california-asset\/\",\"name\":\"HRL Laboratories Pays $40M For Southern California Asset - 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