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June 17, 2024
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Westlake Village Office Asset Trades in $35 Mil Deal


The Harkham Family has purchased 2625 Townsgate, a 132k sf, Class A creative office property in Westlake Village, for $35.1 mil, or $266/sf. The acquisition was part of an exchange following the buyer’s $200 mil sale of 360 N Rodeo Drive.

Originally built in the 1970’s and renovated in 2001, 2625 Townsgate is one of the most desirable office buildings in all of Westlake Village with floor-to-ceiling glass, a high-profile tenant roster and creative office features that mirrors trophy creative buildings in San Francisco and prime Los Angeles. 2625 Townsgate also caters to the growing tenant demand for life sciences space in the Conejo Valley due to its close proximity to Amgen and other leading pharmaceutical companies.

Westlake Village is an affluent community of more than 8,000 residents boasting a median household income of $224,348.

Marc Schillinger with JLL Capital Markets arranged acquisition financing of $21.06 mil for the purchase. The 10-year, fixed rate acquisition loan features a sub-100 basis point spread and multiple years of interest-only payments.

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