Agoura Hills Office Building Sells for $20 Million

A 94,000-square-foot office building has sold in Agoura Hills for $20 million, according to L.A. commercial real estate brokerage firm Madison Partners. The two-story property at 28632 Roadside Drive sold for more than $212 a square foot to the limited liability corporation entitled 540 South Lake Avenue, Madison said. The office building, built in 2002, sits on more than 5 acres in in the Agoura Gateway business park and has signage that can be seen along the 101 Highway. The seller was Jacinto Arteaga, according to CoStar Group, who bought the property in 2004 for an undisclosed price. Lynwood Fields of Madison Partners arranged the sale on behalf of the seller. Buildings don’t trade often in Agoura Hills, so the closest sale for comparison is 29525 Canwood St. in the Agoura Hills Medical Plaza that sold for nearly $14 million, or about $269 a square foot, in March. The 52,000-square-foot office property was built in 1983.