February 5, 2016 – CBRE Group Inc. announced the sale of the Canwood Business Park, a site that includes office and industrial space in Agoura Hills, California, for nearly $21 million to Majestic Asset Management, Inc. and JS/JS Properties, Inc.
The 120,000 square foot property, located at 5126, 5137, 5142, 5155 Clareton Drive, is a mixture of office and industrial spaces with a diverse tenant base. Majestic plans to reposition the asset into a creative office and flex campus, taking advantage of each building’s clear height, operable windows, and unobstructed views of the Santa Monica Mountains. The project, which will be rebranded as Tech Park @ Canwood, allows for a wide array of possible uses and is walking distance to a multitude of amenities and food options, including Trader Joe’s, Wildflour Bakery, The Habit Burger and Jinky’s Cafe.
CBRE’s Troy Pollet, Matthew Heyn and David Solomon represented the buyer. This is Majestic Asset Management’s second significant transaction in as many years in the Conejo Valley. The seller was represented in-house by Steve Morse of The Johnston Group.
“It has never been more important for employers to recruit and retain top talent,” said Pollet. “Once renovated, Tech Park @ Canwood will be a mecca for employers looking to do exactly that.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
