The capitalization rate for the property is estimated at 8%, according to Kahn of CB Richard Ellis. There is a great opportunity to push rents, he added, but declined to quantify on behalf of the buyer. Kahn went on to say that about 14,000 sf of tenant space will be up for renewal in the coming year, however, he did not expect that to effect the capitalization rate.
The property is near the Mission Oaks business park in Camarillo. There are several amenities close by, including the Marriott Courtyard and some restaurants.
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