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Tuesday, Oct 3, 2023

Majestic Sells Last Buildings at Agoura Tech Campus for $17.7 Million

Majestic Asset Management Inc. in Van Nuys, which two years ago purchased Tech Park @ Canwood, has sold the remaining two of four buildings at the Agoura Hills creative flex campus for $17.7 million. The pair of structures total about 80,390 square feet of the 120,000-square-foot total. The buyer was an undisclosed private investor, according to the buyer’s broker, Ron Feder, managing director of KW Commercial Calabasas. “The buyer is an individual, who I sold the other two buildings to last year,” Feder told the Business Journal. “He owns several other properties in the area and it was an opportunity to continue to fill his portfolio with good-quality assets.” The two buildings are at 5126 & 5142 Clareton Drive. At the time of the sale, both properties were 100 percent occupied, according to Feder. Tenants at the fully leased buildings include P&K Architecture, Wespac Management Group, Delphi Property Management and Berg Electric. Majestic bought the office/industrial campus two years ago for $21 million. At the time, the complex was called Canwood Business Park. According to Feder, Majestic repainted the buildings and “updated common areas to a new, fresh, creative feel,” he said. The company remodeled it with modern drought tolerant landscaping and an outdoor gathering area, and rebranded it Tech Park @ Canwood.

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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