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

2945 Townsgate Road
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This Office property located in CA was sold for $80,800,000 over 2 years ago. The brokers of the deal were Kevin Shannon, Rob Hannan, Laura Stumm, and Ken White

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.

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Deals
  • Location
    2945 Townsgate Road, Westlake Village, CA, USA2945 Townsgate Road, Westlake Village, CA, USA
  • Sale Price
    $80,800,000$80,800,000
    $338 PPSF$338 PPSF
  • Area
    239,003 SF239,003 SF
  • Asset Type
    OfficeOffice
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Rob Hannan

Rob Hannan

Deals22
Financed$1.4B

Laura Stumm

Laura Stumm

Deals23
Financed$1.4B

Kevin Shannon

Kevin Shannon

Deals79
Financed$4.9B

Ken White

Ken White

Deals58
Financed$3.6B

Agency

Newmark

Newmark

Agency
Deals3891
Volume$397.4B

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Deal Summary

SALE IMAGE: Kevin Shannon, Ken White, Rob Hannan & Laura Stumm DATE: 07/23/2021 ADDRESS: 2945 Townsgate Road MARKET: Westlake Village ASSET TYPE: Office BUYER: Amstar & Searles Property Group SELLER: Invesco Real Estate BROKERS: Kevin Shannon, Rob Hannan, Ken White & Laura Stumm - Newmark @newmark SALE PRICE: $80,800,000 SF: 239,003 ~ PPSF: $338

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2945 Townsgate Road

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