A two-building industrial park in Camarillo has traded hands for $54.5 million.
The 732,000-square-foot Mission Oaks Corporate Center was sold by a joint venture of L.A. real estate investment trust Rexford Industrial Realty Inc. and affiliates of New York real estate investment firm Dune Real Estate Partners.
The buyer was undisclosed, but was described by a local broker as an institutional investor from out of state that is looking to acquire more property on the West Coast. Both sides were represented by a team of brokers from CBRE Group Inc.
“This is one of the largest transactions this market has seen in some time,” said CBRE Vice Chairman Darla Long, who represented both sides of the transaction, in a statement. “It represented an excellent opportunity to acquire a critical mass of core stabilized product in the desirable Southern California market.”
The buildings in the 3000 block of East Mission Oaks Boulevards are fully leased to Deckers Outdoor Corp and Addison Behavioral Resources.
The building at 3001 East Mission Oaks Blvd. is a 309,500-square-feet warehouse distribution building with 28-foot clearance, 25 dock-high positions and one ground level door. There is additional land that can be used for trailer storage, staging, parking or an expansion.
The building at 3175 East Mission Oaks Blvd. is a 423,106-square-foot warehouse building. The features include 30- to 35-foot clearance, 30 dock-high positions, two ground-level doors and an advanced fire protection system.
The team of CBRE Vice Chairman Barbara Emmons, Vice President Rebecca Perlmutter Finkel, Senior Vice President Michael Kendall, Senior Vice President Paul Farry, First Vice President Doug Shaw and First Vice President Jim Meaney also represented both the buyer and seller.