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WESTLAKE VILLAGE, CA-The Guitar Center has expanded its headquarters to 165,000 sf with the $12.2 million acquisition of a 96,000-sf office complex, according to CB Richard Ellis. Michael Slater of the Ventura office of CB Richard Ellis tells GlobeSt.com that the acquisition includes a three-building complex at 5775 Lindero Canyon Rd., next to the existing 69,000-sf Guitar Center headquarters at 5795 Lindero Canyon.

Slater was part of a team of current and former CBRE brokers and Staubach Co. brokers who negotiated the deal for the Guitar Center, which acquired the new property from John and Denise M. Gooden, owners of a company called 12 By 12, which occupies the 96,000-sf complex.

Gary Horwitz, lead broker on the transaction, says the deal will enable the Guitar Center to accommodate its plans for growth while remaining in its current location. Others on the team included Alan Aufhammer and Tony Morales of the Staubach Co. Horwitz and Aufhammer, now with Staubach, formerly were with CBRE.

Slater tells GlobeSt.com that the Guitar Center leases the space in its existing headquarters in a deal that runs for about three more years. The musical instruments retailer plans extensive tenant improvements to its newly acquired property, which is mainly industrial space that will be converted primarily to office use with some warehouse space.

The newly acquired complex consists of an office building of approximately 7,500 sf, a 900-sf security building and the balance of the 96,000 sf in the remaining building. The Guitar Center will begin tenant improvements at the new space after it is vacated by the sellers, who were represented by Jeffery Hitz of Level One Commercial Real Estate.

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