Updated Oct 28, 2024
Newmark Sells Westlake Village Office Building For $27M
2829 Townsgate Road, Westlake Village, California 91361, United States
$27,000,000
$305/SF
Building Size
88,334 SF
Asset Type
Office
Closing
Mar 28, 2022
About this deal
AI
Located at 2829 Townsgate Road in Westlake Village, this office property was recently sold in a closed transaction. The property, spanning 88,334 square feet, was purchased by Majestic Asset Management for a total sale price of $27,000,000. With a price per square foot of $305, the transaction showcased the value of this office asset in the Westlake Village market.
Summary of transaction details
- Property Type: Office
- Sale Price: $27,000,000
- Square Footage: 88,334
The sale was facilitated by Kevin Shannon, Sean Fulp, Ryan Plummer, and Mark Schuessler from Newmark, who represented Majestic Asset Management in this deal. Their expertise and negotiation skills played a vital role in successfully closing the transaction.
Players
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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93