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6/04/26
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Oak Park Investments and Arise Investments, in partnership with Nelnet Real Estate Ventures, have acquired a 98.1k sf warehouse facility in Westlake Village for $19.3 mil ($197/sf) in a sale/leaseback deal. The property sits on seven acres at 5775-5785 Lindero Canyon Rd, just north of the 101 Fwy at Thousand Oaks Blvd.
The property was sold by Guitar Center, the world's largest retailer of musical instruments and audio equipment, which will continue to occupy the facility as part of their corporate headquarters campus.
The multi-building campus features 1,200 amps of power, 26-foot clear heights, and 273 parking stalls. The property offers direct access to the 101 Fwy and nearby retail and restaurant amenities.
“We identified this off-market opportunity and invested a significant amount of time working with Guitar Center’s leadership to structure a transaction which worked for all parties involved,” added Danny Soroudi, Principal at Los Angeles-based Arise Investments. “Guitar Center required flexibility in their leaseback terms and certainty of execution, which we were able to provide through a creative framework” he added.
Ori Doron, Co-Founder and Principal of Oak Park Investments, points out that "This is an irreplaceable asset that benefits from strong demographics and superior nearby amenities.”
The acquisition reflects the partnership's conviction in the Westlake Village industrial submarket, which ranks among the most supply-constrained in Southern California. According to CBRE Research, Westlake Village posted an overall vacancy rate of just 0.8%, the lowest of any submarket in Ventura County, with no industrial product currently under construction.
The Conejo Valley's industrial market is underpinned by one of the most dynamic business ecosystems in Southern California. Amgen, the global biopharmaceutical giant, has been headquartered in Thousand Oaks for decades and recently announced a $600 mil investment in a new research and development facility at its primary campus. The region is also home to a dense concentration of aerospace, defense, life sciences, and technology firms that drive sustained demand for high-quality industrial space and create a deep, skilled labor pool, factors that continue to attract both occupiers and investors to the submarket.
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