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Colliers presents the opportunity to acquire the fee-simple interest in Westlake Gardens, a two-building, 99,545 square foot office campus ideally located in Thousand Oaks, California.
Situated on 4.70 acres of land, this core investment is 90% leased to a diverse roster of 33 tenants representing 16 different industries, insulating investors from exposure to any single industry. The property has a weighted average tenant tenure of 7.26 years, emphasizing the desirability of the building and location along with the strong probability of tenant renewals. Since 2021, a majority of the tenants at Westlake Gardens signed a new lease, have renewed, or are expected to renew at the project.
Built in 1998, Westlake Gardens has been well maintained and benefited from recent lobby and building system upgrades. Situated at the southern border of Thousand Oaks, the tenants enjoy convenient access to the abundant amenities that neighboring Westlake Village provides and easy access to the 101 Freeway, the Conejo Valley’s main transportation corridor.
With an average suite size of 2,600 square feet, the Property ideally meets tenant demand, consistently outperforms the market, and is poised to continue that long-standing trend.
