CAMARILLO, CA—An unnamed private investor has purchased Mission Oaks Corporate Center for $54.4 million from a joint venture between Rexford Industrial and Dune Real Estate Partners LP. Located at 3001 and 3175 East Mission Oaks Blvd., the two-building, 732,606-square-foot industrial campus is 100% occupied by Deckers Outdoor Corp. & Addison Behavioral Resources through 2018.
The sale is one of the largest industrial transactions in the past few years, according to Darla Longo, vice chairman at CBRE, who represented both the buyer and the seller in the transaction along with her CBRE colleagues Barbara Emmons, vice chairman and Rebecca Perlmutter Finkel, VP, Michael Kendall, SVP as well as local market experts Paul Farry, SVP, Doug Shaw, first VP, Jim Meaney, first VP. The parties involved were unable to comment before the publication of this story.
The property sits on more than 38 acres in Camarillo, CA. The larger building, located at 3175 Million Oaks Blvd., is 423,106 square feet and serves as a warehouse. The property features 30- to 35-foot clear heights, 30 dock high positions, two ground-level doors and an ESFR sprinkler system. The small building still is more than 309,500 square feet and serves as a warehouse distribution building. It features a 28-foot clearance with 25 dock high positions and additional land behind the building that can be used for trailer storage, a staging area, additional parking or even building expansion.
Earlier this year, a private investment group led by CPA Adrian Stern purchased the nearby Mission Oaks office building for $12.8 million. The 80,000-square-foot property was 97% occupied and is located in the Mission Oaks Professional Center.