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Thursday, Sep 21, 2023

Majestic Sells Part of Agoura Hills Office Campus

Majestic Asset Management Inc. in Van Nuys has sold two of four buildings in the Agoura Hills creative flex campus it remodeled after buying the park last year. The real estate firm shed 5137 and 5155 Clareton Drive within its Tech Park @ Canwood for nearly $10.3 million. The buyer was an undisclosed private investor, according to Ron Feder, managing director of KW Commercial Calabasas, who represented the investor in the deal. The two properties were 100 percent occupied at the time of the sale, according to Feder. They total about 42,000 square feet, which is barely a third of the overall park at 120,000 square feet. Majestic bought the office/industrial campus last year for $21 million when it was named Canwood Business Park. The company remodeled it with modern drought tolerant landscaping and an outdoor gathering area, and rebranded it Tech Park @ Canwood to attract companies that prefer modern working environments.

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