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June 20, 2024
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The Associates Equity Fund Buys 129k sf Ventura County Industrial Facility


The Associates Equity Fund has acquired a 129k sf, R&D facility in the Ventura County city of Moorpark for $7.65 mil, or $59/sf. The facility was purchased from Los Angeles-based investment firm Maxxam Enterprises.

The property is located at 5898 Condor Dr, just off the 118 Fwy at Princeton Ave. AEF will begin the interior modifications to the building, much of which is expected to be tenant-driven based on current leasing activity.

Mike Tingus and Grant Fulkerson with Lee & Associates Calabasas represented both parties in this transaction.

“Moorpark has experienced a strong level of demand for functional R&D space with essentially no new construction and significant constraint on supply due to a lack of quality sites and the cost of development of that product type. AEF’s plan to reposition the asset back into a highly competitive R&D building fits ideally into an obvious hole in the market,” said Tingus.

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