-Martin Properties Inc. purchased a Thousand Oaks industrial building at 3500 Willow Lane for $10.4 million and leased it to Easton Baseball/Softball for its headquarters. The property has 111,700 square feet and represents a 40 percent expansion compared with Easton’s former home in Van Nuys.
-Rising Realty Partners and Mount Kellett Capital Management have sold two Simi Valley office buildings for $57 million, or about $119 a square foot. The 206,917-square-foot building at 450 American St. changed hands for $28.4 million while the 273,241-square-feet property at 1800 Tapo Canyon Road went for $28.6 million. Griffin Capital Essential Asset REIT II Inc. in El Segundo was the buyer.
-The office building at 2000 Corporate Center Drive in Newbury Park sold to a private Chinese investor for $19.1 million, or about $178 a square foot. The 106,560-square-foot property is completely leased to Anthem Blue Cross of California until 2022. The seller was New York-based Gramercy Property.
-County Commerce Bank has purchased a branch location in the Westlake Corporate Center for $3 million from Westlake Gateway Properties. The 4,183-square-foot standalone building is located at 2663 Townsgate Road in Westlake Village. It was previously leased to Rabobank.
-J.D. Power & Associates plans to move from its current headquarters at 2625 Townsgate Road in Westlake Village to 30870 Russell Ranch Road, also in Westlake Village, by the end of the year, with roughly the same footprint. A spokesman for the marketing services firm said its current lease is expiring, and the Russell Ranch location best meets its needs. The company has about 200 employees in Westlake Village.
The operative word for the Conejo Valley office market is “creative,” as tenants, landlords and brokers try to match properties with business requirements – without raising rents.
Data from Colliers International indicates a gradually improving market, with tenants taking only 15,400 square feet off during the third quarter...