Meissner Filtration Products, a Camarillo company that is among the largest employers in Ventura County, has purchased a 30,000 square foot office/flex building in Camarillo.
Meissner, which makes advanced microfiltration products for the biopharmaceutical industry, announced April 30 that it was awarded a $13.4 million contract from the U.S. Biomedical Advanced Research and Development Authority to expand its production to make products that are used to make COVID-19 vaccines and therapeutics.
Meissner has bought a recently vacated 30,855-square-foot office/flex building at 975 Flynn Road in Camarillo for $4.9 million.
Located in Camarillo’s Flynn Road industrial area, which was originally developed by Told Corp. in the 1990s, the building has housed numerous businesses.
With a workforce numbering 1,000, Meissner is one of the largest employers in Ventura County.
NAI Capital Commercial’s Executive Managing Director Bill Kiefer transacted the deal on behalf of seller, 975 Flynn Road LLC, while Paul Farry of CBRE Group represented Meissner.
“The sale price of $160 per square foot of building area is indicative of current pricing levels in a market with flex/office space competing for commercial/industrial users,” Kiefer said in a statement. “All parties were delighted with the sale.”
Camarillo has seen quite a few industrial trades in recent quarters. In March, two warehouses totaling nearly 750,000 square feet that are leased to Amazon.com Inc. sold to Oaktree Capital Management for $154 million, or $210 per square foot. In November 2019, an office/flex space at Mission Oaks Business Park spanning just over 181,000 square feet sold for $11 million, or $61 per square foot.