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2625 Townsgate Road, Westla...

Harkham Family Acquires Westlake Village Office Building For $35.1M
SOLDOffice

Harkham Family Acquires Westlake Village Office Building For $35.1M

2625 Townsgate Road, Westlake Village, California 91361, United States

$35,100,000

$265/SF

Building Size

132,037 SF

Asset Type

Office

Closing

Apr 25, 2022

AI

The office property located at 2625 Townsgate Road in Westlake Village has been sold in a transaction. The property spans a total of 132,037 square feet and is categorized as an office asset. The sale took place on April 26, 2022, and the property was purchased by the Harkham Family for a total price of $35,100,000, equating to a price per square foot of $265. The transaction involved the Westlake Corporate Center as the seller.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $35,100,000
  • Square Footage: 132,037
  • Price per Square Foot: $265
  • Address: 2625 Townsgate Road
  • Market: Westlake Village

The buyer's representatives in this deal were Marc Schillinger from JLL and Danny Lampert from Aviara Real Estate. They played a crucial role in facilitating the transaction on behalf of the Harkham Family.

Players

Marc Schillinger

JLL

Broker

$2.2B

vol

51 deals

Broker

Harkham Family

Buyer

$357.4M

vol

8 deals

Buyer

Thousand Oaks Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93