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80,000-SF Office Building Sells for $8.4M

CANOGA PARK, CA-The property is located near the Warner Center sub-market, across the street from a Westfield Shopping Town. The buyer was Owensmouth LLC. The seller was Arden Realty Inc.

By Peter Landau | Updated on May 07, 2002

CANOGA PARK, CA-Owensmouth LLC has purchased an 80,000-sf office building at 6800 Owensmouth Ave. for $8.4 million. The four-story, class A building was 85% leased at the time of sale.

The property is located near the Warner Center sub-market, across the street from a Westfield Shopping Town. The seller was Arden Realty Inc.

“The buyers felt this property was a high image asset in a quality market within the sphere of influence of Warner Center and within walking distance to all surrounding amenities,” says Tony Principe of Westlake Village, Calif.-based Westcord, which represented Owensmouth LLC. “Yet, because it is on the fringe of Warner Center, we feel we can attract many tenants who don’t want to pay north of $2 per square foot for rent.”

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