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1 Dole Dr, Thousand Oaks, C...

Updated Oct 29, 2024

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

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

1 Dole Dr, Thousand Oaks, CA, 91362

$50,000,000

$297/SF

Building Size

168,000 SF

Asset Type

Office

Closing

Sep 13, 2018

About this deal

AI

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:

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.

On the Map

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$50,000,000

$297/SF

Office

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Players

Todd Tydlaska

Colliers

Broker

$1.8B

vol

30 deals

Broker
Conrad N. Hilton Foundation
Conrad N. Hilton FoundationBuyer
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Westlake Village Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $297 per square foot on a published $50M for 168,000 square feet (2018).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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