WOODLAND HILLS, CA—Investors are snatching up high-profile office properties. Peregrine Realty Partners has acquired a multi-tenant building in the Warner Center Business Park for $19 million from a joint venture between Oakfield Realty Partners and Long Wharf Real Estate. The sale was the third and final acquisition of a three-property portfolio.
Located at 5950 Canoga Ave. in Woodland Hills, the 92,547-square-foot property sits on a high-identity corner with direct freeway access. The building has a glass façade, and recently earned an Energy Star rating for its operating efficiency. The transaction represents a 7% cap rate.
Bob Safai and Matt Case of Madison Partners represented the seller in the transaction. They did not respond to a request for comment.
Woodland Hills has been attracting high profile tenants. Earlier this year, for example, Universal Music Group signed a lease for a 146,636-square-foot space at the nearby LNR Warner Center. The lease transaction was one of the largest completed this year.
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Kelsi Maree Borland
