CANOGA PARK, CA-Kids from the Valley VII has acquired the 72,000-sf Warner Business Park East at 21120 Vanowen St. for $14 million in one of four North Los Angeles County and Ventura transactions totaling $35 million, according to Lee & Associates. The Canoga Park asset, a combination office and industrial park, was built in 1971 and consists of 25 units that are 98% leased to a variety of business and industrial tenants.
Kids from the Valley VII was represented by Ron Feder of the Lee & Associates Calabasas office, with seller 21120 Vanowen Associates LLC represented by Scott Silverstein of Lee's Calabasas office and Chris Dorland of the company's Sherman Oaks office.
In a transaction in Moorpark, a buyer doing business as BCP-5898 Condor LLC acquired a 116,000-sf office building at 5898 Condor Drive from Moorpark Plaza, LLC for $10.75 million. According to Mark Leonard of Lee, the buyer plans to renovate the property extensively by building out the second floor mezzanine and adding a window line.
The project is scheduled to be completed in first quarter of 2007, with Leonard and Marc Spellman as the listing agents. In the property sale, both sides were represented by a Lee team including Mike Tingus, Spellman, Leonard, Jay Rubin and Colin Foutz.
In another Moorpark deal, MacLand LLC bought a 104,000-sf industrial building at 5152 Commerce Ave. on five acres of land from York Moorpark Industrial LLC for $7.9 million. The seller was represented by Lee's Tingus, Foutz, Scott Linklater and Grant Fulkerson.
Tingus also led his brokerage teams to complete the sale of a 27,137-sf land parcel in Calabasas at the northeast corner of Lost Hills and Agoura roads that sold for $3 million. Tingus represented the seller, Cypress-Calabasas LLC, with Lee's Chris Dorland and Grant Fulkerson assisting on the sellerside. Bob Haas of Cypress Retail Group represented the buyer, Dollinger Properties.
Dollinger Properties owns six acres of adjacent land which it plans to develop into a lifestyle retail center. The additional land purchase will provide enhanced access and visibility for the new development.
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