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AGOURA HILLS, CA-The Klein Family Trust of Brentwood has acquired the 80% preleased, 109,000-sf Village Corporate Center office project from TR Funding of Conejo Valley for $22 million before the completion of construction, according to Westcord Commercial Real Estate Services. Tony Principe of Westcord calls the deal the latest sign of Conejo Valley’s strong office market, and it’s also a sign of the continuing investor demand in Southern California for leased properties in virtually any sector.

The Village Corporate Center is a class A office campus at 30077-30101 Agoura Court. The project comprises a 69,000-sf building in Phase I that is completed and 95% leased, plus a 31,000-sf Phase II building that is scheduled for completion in June.

The Phase II building at Village Corporate Center will serve as the headquarters for ISWest, an Internet provider, which will occupy more than half of the space in a 10-year lease. Tony and Rick Principe of Westcord represented the seller of the property, with Joe Lopez of Westcord representing the buyers.

The Klein Family Trust has a 30-year record of investing in commercial and residential properties in Los Angeles County, with an increased focus in recent years on Conejo Valley commercial properties, Lopez says. Lopez will head a team that includes Lloyd Wertheimer of Westcord to handle leasing of the remaining 15,000 sf on the second floor of Phase II at the office campus.

In addition to ISWest, a freight management services supplier named CfM recently occupied more than 8,000 sf of space at Village Corporate Center. The project was designed by Neal Scribner AIA Architecture of Thousand Oaks and is visible from the 101 Freeway.

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