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Limited Calabasas Stock Boosts Interest Despite Office Uncertainty

Despite the uncertainty of the office market created by the pandemic, a class-A office building had multiple offers and went under contract within weeks of listing. The 46,899-square-foot office building located at 26050 Mureau Rd. in Calabasas has closed for $12.7 million or $271 per square foot. The two-story building on 1.59 acres is adjacent to the 101 Ventura Freeway.

The Lee & Associates-LA North/Ventura brokerage team led by firm principal Jay Rubin and associate Eugene Kim represented the seller, Crusader Insurance Company, in the transaction. Craig Miller and Todd Cobin of Stone Miller represented the buyer.

“Calabasas has become one of the most sought-after communities in Los Angeles. There isn’t a lot of comparable product in Calabasas so we knew that there would be a strong interest from owner-users taking advantage of the opportunity to purchase a class-A property with compelling tax incentives, easy access to LA, great amenities and lifestyle, and a robust workforce,” said Rubin. “With the evolution in the office market we are experiencing, companies are looking for these types of opportunities to invest in an office that gives them greater control of their environment and flexibility for their business.”

The property was built in 1997 and has 157 parking spaces.


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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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