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1/10/19
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Oxnard Union High School District and Rio School District have purchased a 115.6k sf office building in Oxnard for $13.75 mil ($119/sf). Oxnard Union High School District will own 70% of the building, located at 1800 Solar Drive, and occupy the first two floors, while Rio School District will own a 30% share and occupy the third floor.
The Rio School District serves elementary schools in North Oxnard and El Rio while Oxnard Union serves high school students in Oxnard and Camarillo, so sharing the building will provide excellent synergy for the community and parents who can now come to one building for administrative needs.
Both agencies plan to use as much of the existing improvements as possible and make program modifications accordingly. Oxnard Union High School District will also be converting space for its adult education program and other educational programs, which will be located in the building. Both Districts will be implementing State of the Art Technology which will extend to the Oxnard High School District Schools and Rio School District Schools.
David Kim and Mike Tingus with Lee & Associates-LA North/Ventura, along with Joel Kirschenstein of Sage Realty Group Inc, represented the school districts in the acquisition. The seller, Thatch Inc, was repped by Fred Ferro of NAI Capital.
“There is so little office inventory available in the City of Oxnard that our search took nearly a year,” said Kim. “When we identified this property, it was larger than the Oxnard Union High School District required, but it presented an ideal opportunity for the two school districts to share the building.”
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