299 W. Hillcrest Drive
Thousand Oaks, CA 91360

Price: | $9,300,000 | Price/SF: | $206 |
Bldg SF: | 45,183 SF | CAP Rate: | 5.18% |
Land SF: | 134,164 SF | Occupancy: | 77% |
Year Built: | 1986/2007 | Property Type: | Office |
Click to View Offering MemorandumClick to Print Offering Memorandum
Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Price: $9,300,000
Bldg SF: 45,183 SF
Land SF: 134,164 SF
CAP Rate: 5.18%
Price/SF: $206
Occupancy: 77%
Property Type: Office
Click to View Offering MemorandumClick to Print Offering Memorandum
Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685
Investment Highlights
EXCELLENT THOUSAND OAKS, CA LOCATION IN THE THRIVING “TECHNOLOGY CORRIDOR
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Ideally located in the upscale, affluent Conejo Valley sub-market of Thousand Oaks, CA in the thriving “Technology Corridor”
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Close proximity to the Interstate 101 Ventura Freeway
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Amenity rich sub-market within close proximity to world-class hotels, restaurants, retailers, hospitals, and banks
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Centrally located in the heart of Thousand Oaks directly across from the Oaks Mall, a 1.3 million square foot open and enclosed shopping mall
HIGH IMAGE OFFICE BUILDING HOME TO A SEASONED MIX OF OFFICE AND MEDICAL TENANTS
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Dramatic two-level high imagine atrium skylight lobby creates a modern business environment
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A number of suites have private balconies
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Excellent below grade and surface parking
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Tremendous views of the Santa Monica Mountains
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Ideal suite sizes averaging 2,000 square feet
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Seasoned tenants mix of general office and medical tenants
STRONG IMMEDIATE TRADE AREA CREATES A BUSINESS FRIENDLY ENVIRONMENT
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Direct across the street to an upscale Oaks Mall, a 1.3M SF upscale shopping mall
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Thousand Oaks is a well-managed city home to several large companies
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Strong Demographics, amenity rich environment surrounded by master planned communities
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Plethora of multi-milliondollar homes in the immediate area with median home values north of $700,000
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Average household income north of $135,000 with median home values in excess of $700,000
UNIQUE VALUE-ADD OR OWNER-USER OPPORTUNITY
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Current 77% occupancy allows for immediate upside upon stabilization
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Priced below replacement costs
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Current vacancy in conjunction with pending lease expiration creates an ideal opportunity for an owner user buyer looking to occupy a portion of this property while generating additional income from the exiting tenant base
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Excellent parking creates opportunity to attract additional medical uses to the property