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Wednesday, Jul 6, 2022

Westlake Village Creative Office Sells for $35 Million

A creative office property totaling 132,037 square feet in Westlake Village has sold for $35.1 million.

A creative office property totaling 132,037 square feet in Westlake Village has sold for $35.1 million.

2625 Townsgate Road has floor-to-ceiling glass and creative office features. The property also caters to the growing tenant demand for life sciences space in the Conejo Valley due to its close proximity to Amgen Inc. and other leading pharmaceutical companies.

In the sale, JLL represented the buyer, the Harkham Family, which entered into an exchange from their $200 million sale of another property at 360 N. Rodeo Drive in Beverly Hills.

JLL also arranged $21 million in financing for 2625 Townsgate, securing a differentiated 10-year, fixed-rate acquisition loan.

The JLL Capital Markets team was led by Senior Managing Director Marc Schillinger.

“Companies stay and continue to relocate to Westlake Village because it is a beautiful place to live while also having a thriving business community,” Schillinger said in a statement.

 

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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