2829 Townsgate Road ("The Property") is an 88,334-square-foot three-story office building in Westlake Village, California. This investment utilizes the benefits of the Conejo Valley's growing businesss footprint as well as the vast amenities of this submarket.
The Property is currently 92% leased to a diverse rent roll of financial services, information systems technology, and real estate tenants, with 3.45 years of weighted average lease term. The largest tenant, Wells Fargo, occupies 40% of the rent roll, and is an investment grade credit tenant (S&P: BBB+ Rating). In addition, Majestic Workspaces adds imbedded deamdn by incubatting small tenants within the building and likely will improve average occuopancy throughout an investor's holding period.
This opportunity allows for an investor to tap into a growing market as people migrate to the suburbs. There are no vacant sites in the Greater Conejo Valley that are entitled for new office development placing upward pressure on asking rents. The Proeprty is a great opportunity for investors looking for a secure cash flow in a supply constrained market.