Outdoor clothing and gear brand Patagonia Inc. in Ventura has bought the former Brooks Institute of Photography building, according to CBRE Group Inc.
Patagonia’s holding company bought the 68,000-square-foot industrial building at 5301 N. Ventura Ave., off State Route 33. According to CoStar Group Inc., the company paid $7.5 million, or about $110 a square foot. The nearly 8-acre property includes offices, classrooms, a warehouse, soundstages, post production and screening rooms, as well as a pool. The industrial building was constructed in 1950.
Patagonia will use it for corporate purposes, according to CBRE.
CBRE’s Jim Meaney, Doug Shaw, Paul Farry and John Cardona brokered the deal on behalf of the seller, RDKJV Campus. According to CoStar, the seller is Rossi Trading Co. A, but both are limited liability corporations.
“This building is a one-of-a-kind property in our market,” Meaney said. “As a former school, engineering headquarters, movie studio, and then Brooks Institute of Photography site, the quiet, secluded setting required a unique user.”
The price represents about $30 more a square foot than 650 Buena Vista Ave. in Oxnard that sold for about $80 a square foot, or $3.2 million, in October. The 40,000-square-foot industrial building was built in 1962.