NAI Capital Negotiates Sale of Office Depot Plaza Shopping Center in Thousand Oaks, CA
Westlake Village, CA – March 5, 2019 – NAI Capital is pleased to announce that executive managing director Michael Schiff with NAI Capital’s Investment Services Group completed the sale of Office Depot Plaza, a 33,708 square foot shopping center in Thousand Oaks, California. Michael represented the sellers, Krause-Gusky Properties, in the transaction. The buyer, Agora Realty & Management, was represented by first vice president Marty Cohan of Marcus & Millichap. The sale price totaled $14,335,000, equating to $425 per square foot.
Office Depot Plaza, which consists of three separate buildings, is located at 180 N. Moorpark Road & 11-25 E Hillcrest Dr. The shopping center is situated at the third-busiest intersection in the city of Thousand Oaks, on the northeast corner of Moorpark Road and Hillcrest Drive. The center is comprised of all national tenants including Office Depot (the anchor), Bank of the West, AT&T Wireless, Wescom Credit Union, and The Habit. There was one small vacancy at the time of the sale in the center that had previously been occupied by Shave-It, a shaved ice retailer.
Thousand Oaks is one of the wealthiest cities in the United States. Average household income exceeds $148,000, providing a strong consumer base for retail within the city and surrounding area.
Schiff said, “Office Depot Plaza is great, great real estate. Besides the strong tenant mix of national tenants, it’s hard to find a location that gets much better than this. In addition to the strong demographics of this affluent area, the property being situated right off of U.S. Highway 101 at the intersection of the main thoroughfare to the Oaks Mall, the Janss Marketplace, and thousands of homes north of the property makes the location of this property absolutely prime.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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