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299 W. Hillcrest Drive
Thousand Oaks, CA 91360

Price: $9,600,000 Price/SF: $212
Bldg SF: 45,183 SF CAP Rate: 5.00%
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: $9,600,000
Bldg SF: 45,183 SF
Land SF: 134,164 SF
CAP Rate:  5.00%
Price/SF: $212
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

 

  • Ideally located in the upscale, affluent Conejo Valley sub-market of Thousand Oaks, CA in the thriving “Technology Corridor”

  • Close proximity to the Interstate 101 Ventura Freeway

  • Amenity rich sub-market within close proximity to world-class hotels, restaurants, retailers, hospitals, and banks

  • 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

 

  • Dramatic two-level high imagine atrium skylight lobby creates a modern business environment

  • A number of suites have private balconies

  • Excellent below grade and surface parking

  • Tremendous views of the Santa Monica Mountains

  • Ideal suite sizes averaging 2,000 square feet

  • Seasoned tenants mix of general office and medical tenants

 

STRONG IMMEDIATE TRADE AREA CREATES A BUSINESS FRIENDLY ENVIRONMENT

 

  • Direct across the street to an upscale Oaks Mall, a 1.3M SF upscale shopping mall

  • Thousand Oaks is a well-managed city home to several large companies

  • Strong Demographics, amenity rich environment surrounded by master planned communities

  • Plethora of multi-milliondollar homes in the immediate area with median home values north of $700,000

  • Average household income north of $135,000 with median home values in excess of $700,000

 

UNIQUE VALUE-ADD OR OWNER-USER OPPORTUNITY

 

  • Current 77% occupancy allows for immediate upside upon stabilization

  • Priced below replacement costs

  • 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

  • Excellent parking creates opportunity to attract additional medical uses to the property