LBA Switches Over to Verizon in Conejo Valley Deal

A notable office building in the Conejo Valley was acquired by LBA Realty, out of Orange County. Known as the Verizon Building, the 261k sf facility sits on 22 acres of land at 112 S. Lakeview Canyon Rd, about midway between Thousand Oaks Blvd and the 101 Fwy in Thousand Oaks, and is occupied by the seller, Verizon. The price was not disclosed.

The building was constructed in 1986 by GTE, which eventually became Verizon. Surrounded by Lakeview Canyon Rd, Thousand Oaks Blvd and Via Merida, the campus offers large floor plates and free 4 per 1000 square foot parking. It also has excess land capacity for the potential additional development of over 200k sf of new building area.

Lee Black of NAI Capital took care of negotiations for LBA, while Verizon represented itself in the deal. NAI will handle the leasing of the project for new tenants looking for space in the 20k sf to 130k sf range. Currently, Verizon occupies the entire structure but they plan to vacate half the space in the first half of 2008.

In a smaller Conejo Valley sale, Frontline Medical Associates Inc purchased a 5.8k sf office building at 345 South “A” St in Oxnard. Although the sales price was not given out, the property was listed at $1.3 mil which would give it a price tag of $224/sf. The property was sold by the Scheinberg Trust.

David Kim, John Ochoa and Grant Harris of Lee & Associates represented the seller. Kelly Park of Sherwood Financial & Investment repped the buyer, a full-service medical facility offering urgent-care, drug-screening, internal medicine, physical therapy and family practice services.

Real Estate Designers offers totally innovative solutions for your software development, Internet programming, real estate web design and hosting needs. Our service includes domain name registration and real estate web design. Real Estate Designers provides the complete solution including design, application development and marketing.

source: rentv.com