Amstar & Searles Property Group Acquires Office Building In Westlake Village For $80.8M

Located in Westlake Village, the property at 2945 Townsgate Road has recently been sold in a transaction that closed on July 23, 2021. The asset type of the property is an office, covering a total area of approximately 239,003 square feet. The sale price for this transaction was $80,800,000, resulting in a price per square foot (PPSF) of $338. The property is situated in a prime market, providing a valuable investment opportunity.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $80,800,000
• Address: 2945 Townsgate Road
• Market: Westlake Village
• Square Footage: 239,003

The buyer of this property was a joint effort between Amstar and Searles Property Group. On the other side, Invesco Real Estate acted as the seller. The successful completion of this deal was facilitated by Kevin Shannon, Rob Hannan, Ken White, and Laura Stumm from Newmark, who represented both the buyer and seller.