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Friday, Mar 29, 2024

Westlake Village’s Townsgate Technology Center Sells for $12 Million

Townsgate Technology Center, a 60,478-square-foot office building in Westlake Village, has sold for $12 million, or $198 a square foot. In a deal closed on Dec. 27, Los Angeles-based Abington Emerson Investments LLC bought the building from Woodland Hills’ Syndicated Real Estate Investments. Greg Pill of TriNet Investments represented the buyer. Mark Leonard, a principal of Lee & Associates-LA North/Ventura, and Lee’s Mike Tingus represented the seller together with Grant Fulkerson. Located at 2475 Townsgate Road, the 2002-built Townsgate Technology Center currently has five tenants. According to Costar Group, the subject property is 70 percent leased to core tenants Walking Co. and Yoga Works, both of which recently renewed their leases. Other current tenants include Kb Synergy and Martin Worldwide Inc.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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