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11/28/16
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The Ventura County Community College District (VCCCD) paid $7 mil for a 37.4k sf office building in Camarillo. The two-story building, known as Camarillo Business Center VI, is located at 761 Daily Drive and is one of seven office buildings that make up the Camarillo Business Center. The building offers Ventura 101 Freeway exposure, efficient floor plates and space design suitable for VCCCD’s intended use.
Ventura County Community College District will be relocating from Ventura County and will utilize this building for its new headquarters. They intend to occupy 70% of the property for their administrative headquarters. The remaining space is generating long-term income from four separate tenants, the largest being Premier America Credit Union.
Bill Kiefer and Steve Doll with NAI Capital’s Ventura County office represented Camdaily LLC, the seller. The buyer was represented by Center Commercial Realty.
According to Kiefer, “Local investors initially acquired this property with a very quick off-market transaction in 2015. At the time, the local market had significant vacancy risk which has since tightened over the past 15 months. The more recent sale to VCCCD was another off-market transaction as Camdaily had intended to hold and lease the property for the long term.”
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