{"id":1004694174,"date":"2023-12-14T06:11:15","date_gmt":"2023-12-14T14:11:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004694174"},"modified":"2023-12-14T06:13:56","modified_gmt":"2023-12-14T14:13:56","slug":"strategic-office-partners-sells-la-area-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-asset\/","title":{"rendered":"Strategic Office Partners Sells LA-Area Asset"},"content":{"rendered":"
\"2400<\/a>

The other office building within the Conejo Corporate Campus was retained by the seller. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

Strategic Office Partners<\/strong>, an investment platform founded by TPG Real Estate<\/strong> and Gramercy Property Trust<\/strong>, has sold 2400 Conejo Spectrum, a 98,841-square-foot office building in Thousand Oaks, Calif. County of Ventura<\/strong> purchased the asset for $14.9 million. A Newmark<\/strong> team represented the seller.<\/p>\n

The property is part of Conejo Corporate Campus, a two-building, 196,034-square-foot office park. In 2019, the seller acquired the complex for $41.4 million, CommercialEdge data shows. Harbor Associates and Blue Vista Capital were the previous owners.<\/p>\n

Dating back to 2001, the Class B suburban office building will house the county\u2019s Fire Department administrative headquarters. The two-story asset features 16-foot ceiling heights and a parking ratio of four spaces per 1,000 square feet.<\/p>\n

Located at 2400 Conejo Spectrum St., the property is some 2 miles from a host of dining and retail options, including Ventu Park Shopping Center. Los Angeles International Airport is 48 miles away, while downtown Los Angeles is some 47 miles southeast.<\/p>\n

The Newmark team included Co-Head of U.S. Capital Markets Kevin Shannon and Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll.<\/p>\n

LA sees largest office deal volume in the country<\/h2>\n

According to a recent Los Angeles market update<\/a> based on CommercialEdge data, the metro saw some 7.5 million square feet of office space changing hands year-to-date through October, amounting to $1.86 billion. In the first 10 months of the year, L.A. registered the highest transaction volume in the nation, trailed by gateway cities, such as Manhattan ($1.71 billion), Boston ($1.48 billion) and Washington, D.C. ($1.42 billion).<\/p>\n

One of the largest office transaction in the market was Waterbridge Capital\u2019s acquisition of Union Bank Plaza, a 675,945-square-foot building<\/a> that changed hands for $104 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property will serve as the administrative headquarters of the county’s Fire Department.<\/p>\n","protected":false},"author":3355,"featured_media":1004694177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1594,21742,21747,15],"tags":[33227,50999,36767,48944],"class_list":["post-1004694174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-los-angeles","category-latest","category-office","category-west","tag-gramercy-property-trust","tag-newmark","tag-tpg-real-estate","tag-ventura-county"],"acf":[],"yoast_head":"\nStrategic Office Partners Sells LA-Area Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Strategic Office Partners has sold 2400 Conejo Spectrum, a 98,841-square-foot office building in Thousand Oaks, Calif., for $14.9 million.\" \/>\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\/strategic-office-partners-sells-la-area-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strategic Office Partners Sells LA-Area Asset\" \/>\n<meta property=\"og:description\" content=\"Strategic Office Partners has sold 2400 Conejo Spectrum, a 98,841-square-foot office building in Thousand Oaks, Calif., for $14.9 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-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=\"2023-12-14T14:11:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-14T14:13:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2400-conejo-spectrum-e1702552459406.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"635\" \/>\n\t<meta property=\"og:image:height\" content=\"476\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/strategic-office-partners-sells-la-area-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-asset\/\",\"name\":\"Strategic Office Partners Sells LA-Area Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2400-conejo-spectrum-e1702552459406.jpg\",\"datePublished\":\"2023-12-14T14:11:15+00:00\",\"dateModified\":\"2023-12-14T14:13:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Strategic Office Partners has sold 2400 Conejo Spectrum, a 98,841-square-foot office building in Thousand Oaks, Calif., for $14.9 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/strategic-office-partners-sells-la-area-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2400-conejo-spectrum-e1702552459406.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2400-conejo-spectrum-e1702552459406.jpg\",\"width\":635,\"height\":476,\"caption\":\"The other office building within the Conejo Corporate Campus will be retained by the seller. 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