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California  + Los Angeles  + Industrial  | 

Penwood Picks Up 350K-SF T-Oaks Property for $44M

Hartford, CT-based Penwood Real Estate Investment Management acquired a multi-tenant, 347,119-square-foot R&D/industrial building located in Thousand Oaks, CA from Majestic Asset Management for $44.05 million. The asset is located in the master-planned Conejo Spectrum Business Park.

Originally built in 1962, the property was renovated in 2000 and is located at 1461 to 1475 Lawrence Dr. The 100%-leased facility is situated on a 17.9-acre site, and is occupied by four tenants including Sensata Technologies, LAC Group, Kanner Corporation and MB2 Raceway.

NKF Capital Markets’ Kevin Shannon, Bret Hardy, Brad Burton and Guillermo Boisson represented the seller. The buyer was self-represented.

“This property is a high-image industrial facility within the very tight Conejo Valley submarket, which has one percent vacancy and few remaining land sites for industrial development,” said Hardy, who notes tight market conditions and elevated user demand is expected to drive inflationary-plus rent growth.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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