Majestic Asset Management Acquires Westlake Gardens Office Property For $23.3M

The property involved in the transaction is a 94,000-square-foot office asset located at 2535 Townsgate Rd, Thousand Oaks, within the Westlake Village market. The sale was facilitated by Robert Griffith from Newmark and Sean Fulp from Colliers International. Majestic Asset Management acquired the property from Equity Office Property Trust for a total of $23,300,000. The office property, known as Westlake Gardens, was 94 percent occupied at the time of the sale.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $23,300,000.00
• Address: 2535 Townsgate Rd, Thousand Oaks
• Market: Westlake Village
• Seller's Rep: Robert Griffith (Newmark), Sean Fulp (Colliers International)
• Buyer: Majestic Asset Management
• Seller: Equity Office Property Trust
• Square Footage: 94,000

NKF Capital Markets’ Managing Directors Sean Fulp and Robert Griffith were the key individuals who negotiated the sale on behalf of the seller. The Westlake Gardens property, comprising two buildings completed in 1998 and 1999, is home to tenants such as Westlake Diagnostic Center, TEKsystems, and California Solar Tech. Positioned near Ventura Freeway, the buildings offer convenient access to various bus stations, dining options like Casa Nostra Ristorante and Pookie’s Thai, as well as accommodation at Hyatt Regency. Griffith highlighted the robust activity in the suburban office sale market across Southern California, reinforcing the strength of the transaction.