The Agoura Hills Business Park, a two-building office campus totaling 116,280 square feet in Agoura Hills, California, has been sold to a private investor for an undisclosed price, according to JLL Capital Markets, which arranged the deal.
The office sector has garnered the highest interest from private buyers, capturing a dominant 30% share of the global investment volume, according to JLL’s Private Wealth Tracker.
The Los Angeles area, where Agoura Hills Business Park is located, is one of four US markets among the top 10 globally for attracting private capital.
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Andrew Harper, managing director, JLL, told GlobeSt.com, “There continues to be strong interest and plenty of liquidity from investors making strategic bets in the office sector at reset basis in suburban markets with thriving demographics.”
Agoura Hills Business Park is at 30401 and 30501 Agoura Hills Rd. and adjacent to the Ventura Freeway in Conejo Valley, 35 miles northwest of Los Angeles. The two-story buildings are on a 6.2-acre site that includes parking for 405 vehicles.
Agoura Hills Business Park was recently renovated and is 66% leased to tenants, including A2 Biotherapeutics, a clinical-stage biotechnology company focused on developing innovative cell therapies for cancer patients.
This affluent city is situated in the Santa Monica Mountains, renowned for its luxurious homes, outdoor recreation and affluent lifestyle.
Various retail, hospitality and entertainment options surround the business park.
On the transaction, JLL's Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Jeff Bramson, Managing Director Andrew Harper, Senior Director Will Poulsen, Analyst Taylor Hornsby, and Associate Jacob Molloy.
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