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Two Multi-Building Sales Total Nearly $120M

LOS ANGELES-CBRE has arranged the sale of a three-building corporate center in Camarillo, CA, and a five-building office park in Lake Forest, CA, as investment activity ramps up.

By Carrie Rossenfeld | Updated on July 12, 2012

LOS ANGELES-CBRE Group Inc. has brokered the sale of two multi-building California-based properties totaling more than $119 million. Mission Oaks Corporate Center, an industrial park in Camarillo, CA, was purchased by Rexford Industrial for $59.1 million, and Pacific Vista, an office park in Lake Forest, CA, sold to Cornerstone Real Estate Advisers for approximately $59 million.

CBRE’s Barbara Emmons, Darla Longo and Mike Kendall arranged the sale of 1,188,315-square-foot Mission Oaks on behalf of seller Sandstone Properties, along with local market experts Doug Shaw, Paul Farry and Jim Meaney of CBRE’s Camarillo office. The center is composed of three buildings located at 3001, 3175 and 3233 E. Mission Oaks Blvd. and is 74% leased to a number of tenants including Deckers Outdoor, which occupies 732,606 square feet, and Technicolor, which has leased 455,709 square feet.

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