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Calabasas Office Campus Sells For $78M

Joint venture of Related Management and Cruzan purchased a 225K SF office campus in Calabasas for $78M.
Photo credit: Courtesy of Newmark Knight Frank
Calabasas Park Centre In Calabasas

A Calabasas Class-A office campus has traded for $78M.

A joint venture of Related Fund Management and Cruzan has acquired the Calabasas Park Centre office campus from Kilroy Realty Corp.

Newmark Knight Frank's Kevin Shannon, Rob Hannan, Brunson Howard, Michael Moll and Laura Stumm represented seller Kilroy Realty. The brokers for the JV were not disclosed.

“Calabasas Park Centre’s stabilized in-place cash flow, amenity access, construction quality and strong historical asset performance drove significant investor interest,” Moll said in a news release.

Built in phases in 2000 and 2001 by Kilroy, the Calabasas Park Centre is a three-building, 225,340 SF Class-A office campus adjacent to the Commons at Calabasas retail center.

The campus consists of two four-story and one two-story office buildings. The Calabasas Park Centre is 96% occupied with 38 existing tenants.

CORRECTION, JAN. 8, 6:50 P.M. PT: A previous version of this story misstated which brokers were not disclosed. The story has been updated.

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