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3/05/21
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A 46.9k sf, Class A office building in Calabasas traded hands in a recent $12.7 mil deal ($271/sf). The two-story building, located at 26050 Mureau Rd, sits on 1.59 acres adjacent to the 101 Ventura Fwy.
The high-end property was built in 1997 and was designed with a training center, boardrooms, fitness center, server rooms, employee lounge, and outdoor patio. The building is located in a park-like office campus and has 157 parking spaces, an elevator, and a fully sprinklered fire life safety system. The high-image corporate headquarters and highly improved plug-and-play office with furniture systems are also desirable features of the property.
Jay Rubin and Eugene Kim with Lee & Associates-LA North/Ventura represented the seller, Crusader Insurance Company in the transaction. Craig Miller and Todd Cobin of Stone Miller repped the unnamed buyer.
“Calabasas has become one of the most sought-after communities in Los Angeles. There isn’t a lot of comparable product in Calabasas so we knew that there would be a strong interest from owner-users taking advantage of the opportunity to purchase a Class A property with compelling tax incentives, easy access to LA, great amenities and lifestyle, and a robust workforce,” said Rubin. “With the evolution in the office market we are experiencing, companies are looking for these types of opportunities to invest in an office that gives them greater control of their environment and flexibility for their business.”
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