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Monday, Nov 4, 2024

Calabasas Office Building Sells for $11 Million

A building at Corporate Center Calabasas has sold for $11 million, brokerage CBRE Group Inc. announced Tuesday. CBRE’s Michael Slater, Tom Dwyer and Mike Longo represented the seller, Majestic Asset Management of Agoura Hills. Thousand Oaks-based Westcord Commercial Real Estate Services represented the undisclosed buyer, a real estate investment firm based in Westlake Village. Located at 26565-26707 W. Agoura Road in Calabasas, Corporate Center Calabasas consists of six office buildings ranging from 21,000 to 70,000 square feet. According to CoStar, the three-story building, built in 1990, has 23,626 square feet for lease at $28.80 per square foot. Majestic will upgrade the premises to include modern amenities such as a tenant-exclusive gym, a restaurant and outdoor collaboration spaces. The transaction marks the second sale on the six-building campus this year. In February, CBRE facilitated the sale of another Majestic building for nearly $9 million to a local private investor.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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