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10/05/16
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Beverly Hills-based Omninet Capital LLC has purchased Center Promenade, a seven-building, 180.6k sf office campus in Ventura. The asset, situated adjacent to the Ventura County Government Center, provides a park-like setting with efficient floor plates. It was sold by Equity Office Properties.
Three of Center Promenade’s largest tenants include the County of Ventura, Kaiser Foundation Health Plan and State of California. The property was 81 percent leased at the time of sale with more than five years of average lease term remaining.
Sean Fulp, Kevin Shannon and Brad Burton of NGKF Capital Markets represented the seller in the transaction. According to Fulp, the property received considerable interest because the seller did a great job of increasing occupancy, improving tenant credit and lengthening the average lease term.
Center Promenade is conveniently located within close proximity to a number of amenities in the surrounding area and the location provides easy access to U.S. Route 101 and California Route 126. The buildings are located at 6401, 6477, 6633, 6555 Telephone Road; 1000, and 1070 Hill Road; and 1001 Partridge.
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