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6/14/19
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Westlake Plaza Centre 2, an 84k sf office building in Westlake Village, was acquired by Majestic Asset Management and The Johnston Group in an $18.25 mil deal. The property was sold by Kilroy Realty Corporation.
The building, located at 2829 Townsgate Rd, was built in 1990 and is situated on 1.18 acres in the three-building Westlake Plaza Centre office park. The property is situated adjacent to the 101 Fwy in the heart of Westlake Village. It’s surrounded by numerous retail and hospitality amenities such as Gelson’s Market, Mendocino Farms and Hyatt Regency Westlake, making it a highly desirable Conejo Valley office location as demonstrated by the property’s quality tenancy.
Sean Fulp, Ryan Plummer and Mark Schuessler with Newmark Knight Frank represented the seller in the transaction. The buyers, Majestic Asset Management and The Johnston Group, are both real estate investment and property management companies that focus on repositioning income properties.
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