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November 28, 2023
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Omninet Capital Buys Office/Medical Property in Oxnard


Omninet Capital LLC purchased Solar Drive Business Park, a 136.7k sf, Class A three-building office/medical office property in Oxnard. The property is located at 1901, 2001 and 2051 North Solar Dr, south of Hwy 101 and west of Rice Ave.

Solar Drive Business Park is 75% occupied by medical and office tenants and is situated on 10.4 acres, which includes a 1.2-acre parking lot. Solar Drive Business Park is ideally located within one of the most prominent medical nodes in all of Ventura County, with a number of healthcare-focused tenants within a half-mile of the asset, including the 265-bed St. John’s Regional Medical Center, Magnolia Urgent Care Center, Magnolia Family Medical Center, and Kaiser Permanente.

Newmark Knight Frank’s Sean Fulp, Ryan Plummer, Mark Schuessler, and Ken White represented the seller. Omninet Capital was self-represented. The price was not disclosed.

“The seller recently invested $1.8 mil in capital improvements into this high-quality, institutional asset, including buildout of the available suites in order to significantly reduce the leasing timeline,” said Fulp. “Omninet has the opportunity to capitalize on the demand for medical and office space in the Ventura County submarket by bringing rents to market rates as they roll, and leasing up the available space to traditional office and medical office users.”

Solar Drive is surrounded by a deep employment base with a population of 437,632 residents within a 10-mile radius. Ventura County consistently ranks among the top 100 highest-income counties in the country and within the top 20 in the state of California, attributed to a deep and dynamic labor pool.

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