The Arbors Office Complex Trades Hands

THOUSAND OAKS, CA—Legacy Partners has acquired the Arbors, a 275,329-square-foot office campus from Principal Real Estate Investors, GlobeSt.com reports in this exclusive story. Although the purchase price of the transaction was undisclosed, industry sources unrelated to the deal estimate the property traded hands for $50 million.

The four-building property sits on 16.4 acres. The buildings, labeled A through D, range in size from 61,242 square feet to 71,250 square feet. The campus features an amphitheater and landscaped “park-like” grounds. The property is 88% leased, providing an income stream that will produce a strong yield during the buyer’s stabilization period. CBRE’s Kevin Shannon, Tom Bohlinger and Michael Longo represented the seller in the transaction.