Calabasas Office Property Sells for Nearly $9 Million

An office building in Calabasas has sold for $8.95 million to a local private investor, according to brokerage firm CBRE. The 44,711-square-foot property, located at 26677-26679 W. Agoura Road, is part of Corporate Center Calabasas, a group of six office buildings featuring surface and subterranean parking, a park-like setting and access to the 101 freeway. CBRE agents Tom Dwyer, Michael Slater and Caroline Bigelow worked on behalf of seller Majestic Asset Management Inc., while Ron Feder at KW Commercial Calabasas represented the undisclosed buyer. Corporate Center Calabasas currently has three tenants — Atlas Development Group, Lenderfi Inc. and Armagen Technologies. “Majestic bought this office park with the intent of selling off individual parcels as opposed to the entire project,” said CBRE’s Slater, who added that the real estate investment and property management company plans to transform the property into a contemporary office campus. Majestic’s upgraded version will soon feature such amenities as outdoor collaboration spaces, an on-site restaurant and tenants-exclusive gym.