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December 16, 2018
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Simi Valley Unified School District Spends Over $10 Mil on 120k sf Building


The Simi Valley Unified School District (SVUSD) has acquired a 120.1k sf industrial building to relocate and consolidate its administrative offices under one roof. The property, located at 101 W Cochran St, west of Madera Rd and south of the 118 Fwy, traded for $13.5 mil ($112/sf).

The building, which was renovated in 2000, includes warehouse space, office space, conference rooms and sound studios. It sits on seven acres of land with abundant parking. Formerly used for film production, the property will not only accommodate the many administrative uses the school district requires, it will also allow SVUSD to hold community events and public meetings in the space.

Ron Feder of R.J. Feder & Associates repped the seller, Steve Needleman. Mike Tingus and Grant Fulkerson, SIOR, led the Lee & Associates-LA North/Ventura that represented the school district in the deal. The team worked with Joel Kirschenstein, president of Sage Realty Group Inc (SRGI), to develop a strategy for divesting the school districtís existing properties and acquiring the new headquarters.

Earlier this year, SVUSD subdivided its Educational Service Center at 875 Cochran St into three parcels that were then sold off to three different buyers. Tingus and Fulkerson also executed one of those sales on behalf of SVUSD. With the proceeds of those sales, totaling $10.2 mil, plus an earlier sale of the Wood Ranch Conference Center, SVUSD was able to raise the funds needed for its new headquarters, which is just a mile from its previous location.

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