The Plaza 5051 is a three-story building that is Camarillo's newest class A office project, according to Bill Kiefer, Steve Economos and Geoff DeWolf of NAI Capital. The NAI Capital brokers represented the Foundation Group in the sale of Plaza 5051 to a regional private investor.
Designed by Pierce Cooley Architects, the office building was completed in 2007 and leased in 2008 to tenants that include a number of health care-related firms. The undisclosed buyer of the building was represented by Dr. David Wise of American Corporate Real Estate Services.
The office building is part of a Mission Oaks development that includes a theater, a Starbucks and a number of restaurants and is described by the NAI Capital team as one of the best office environments in the county. Its Central Ventura County location provides immediate access to the 101 Freeway in Camarillo.
In addition, the building features above-standard tenant improvements that were partially funded by the tenants, which was one of the selling points of the property. The NAI brokers point out that the health care-related tenants were also a selling point because medical office users tend to relocate far less often than general office tenants.
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