A 5-acre Thousand Oaks business park off the 101 freeway near Westlake Boulevard has sold for $13 million.
The 74,000-square-foot Townsgate Business Center was purchased by investment group Townsgate Business Park LLC from seller DMC Investment Group, according to Encino brokerage NAI Capital.
The 2637-2649 Townsgate Road property comprises four buildings with 14 units housing multiple business tenants, including an art gallery, a local vintner and a computer company. The units, ranging from 2,500 to 11,100 square feet, were 100 percent leased at the time of the sale.
Timothy P. Foutz , who represented DMC, said the property, which dates from the mid-70s, was on the market less than four months and received multiple offers.
DMC principals and brothers Joshua and Avrom Green owned the park for more than 15 years and decided to sell to pursue other investment opportunities, Foutz said.
Also representing the sellers were NAI Capital’s Dan Spell and Mickey Belt. Representing the buyer was Delphi Business Properties.
The deal closed on Dec. 18 and was announced on Monday.