The County of Ventura and Northrop Grumman together lease 93% of the building.

CAMARILLO, CA—A private investment group led by CPA Adrian Stern has acquired an 80,000-square-foot, class-A office building at the Mission Oaks Professional Center, reports exclusively. The property, which is located at 5141 Verdugo Way, traded hands for $12.8 million.

Industry veteran and KB Property Advisors broker Mark Paul represented both the buyer and the seller in the transaction. “The Mission Oaks Professional Center is in a really great area,” Paul tells In the last five years, they have built this big shopping center right off of the freeway with really great shops. Camarillo has always been a great area, but the shopping center has made it a lot nicer, and this property has really benefitted from that. Although it is a class-A area, this retail presence has been really attractive to tenants.”

The property is currently 97% occupied, with the majority of the space leased by two major tenants, County of Ventura and Northrop Grumman. The County of Ventura leases 61% of the building and Northrop Grumman leased another 32% of the space. “We successfully operated the property for nearly a decade and leased the property to the highest quality tenants,” says Joseph Penner, managing member of Hill Street Realty and an affiliate of the seller.

The Camarillo market attracts a pretty diverse tenant mix. Earlier this year, reported ZPower renewed a 43,272-square-foot industrial lease. The company is a start-up that provides silver-zinc rechargeable battery technology for micro-battery applications. The lease positioned ZPower to expand its operations.