NAI Capital Negotiates Sale Leaseback of JAFRA International Headquarters in Westlake Village, CA
Westlake, CA – October 1, 2019 – Chief Executive Officer Tim Foutz, Senior Vice President Ken Simons, Executive Managing Director Chris Jackson and Executive Vice President Todd Lorber with NAI Capital’s Investment Services Group completed the sale of a 126,238 square foot office/warehouse facility in Westlake Village, California. Tim and Ken represented the seller, Jafra Cosmetics International, Inc. The buyer, PS Southern California One, Inc., was represented by Chris and Todd in the transaction. The sale price totaled $28,200,000 or $223 per square foot.
The property is located at 2451 Townsgate Road. The two-story building was built in 1978, situated on a large 9.6-acre parcel of land. The property is in a prime Westlake location with signage visibility and immediate access to the 101 Freeway.
At the time of the sale the building was occupied by Jafra Cosmetics, Inc. Jafra will leaseback approximately 46,000 square feet of office space to remain as their headquarters. The new owner plans to develop the remaining portion of property into Public Storage 2451 Townsgate Rd, Thousand Oaks, CA 91361.
Ken said, “This was an excellent opportunity for my client to sell this asset they held for a long time, take their profits and redeploy them into their business.”
“Demand for self-storage facilities remains strong. And with the industrial market being extremely tight, quality product is hard to find. The buyer sees the long-term value in this project and they are extremely pleased with this purchase,” Chris added.
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As the largest member of NAI Global, the premier managed commercial real estate service network with 375 Offices and 6,000 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 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. 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.
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
To learn more, visit www.naiglobal.com.
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