Conrad N. Hilton Foundation Acquires Office In Westlake Village For $50M

The Westlake Village headquarters of fruit and vegetable company Dole Food Company was acquired by The Conrad N. Hilton Foundation for $50 million. The property, known as the Dole Building, is a 168,000-square-foot corporate campus located at 1 Dole Drive in Thousand Oaks, CA.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $50,000,000.00
• Address: 1 Dole Dr, Thousand Oaks, CA, 91362
• Market: Westlake Village
• Seller's Rep: Michael Slater(CBRE), Sean Sullivan(CBRE), Todd Tydlaska(CBRE), Tom Dwyer(CBRE)
• SF: 168,000

The off-market deal involving the Dole Building had Todd Tydlaska, Sean Sullivan, Mike Longo, Tom Dwyer, and Michael Slater at CBRE representing Dole in the sale. Despite Dole's recent struggles, including declining revenues and mounting debt, the Hilton Foundation made the purchase, planning to relocate its headquarters to the newly acquired property from a nearby location.