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Friday, Nov 22, 2024

Westlake Village’s Townsgate Technology Center Sells for $12 Million

Townsgate Technology Center, a 60,478-square-foot office building in Westlake Village, has sold for $12 million, or $198 a square foot. In a deal closed on Dec. 27, Los Angeles-based Abington Emerson Investments LLC bought the building from Woodland Hills’ Syndicated Real Estate Investments. Greg Pill of TriNet Investments represented the buyer. Mark Leonard, a principal of Lee & Associates-LA North/Ventura, and Lee’s Mike Tingus represented the seller together with Grant Fulkerson. Located at 2475 Townsgate Road, the 2002-built Townsgate Technology Center currently has five tenants. According to Costar Group, the subject property is 70 percent leased to core tenants Walking Co. and Yoga Works, both of which recently renewed their leases. Other current tenants include Kb Synergy and Martin Worldwide Inc.

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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