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T-Oak’s Conejo Gateway Trades for Record
JLL’s Capital Markets team completed the sale of Conejo Gateway, a 47,254-square-foot neighborhood retail center located at 701 Wendy Dr. in the Newbury Park area of Thousand Oaks. DH Holdings, Inc. acquired the 100%-leased center for $18 million in a transaction that yielded a cap rate and price-per-foot record for this trade area.
JLL’s Tom Lagos and Patrick Toomey represented the seller, WENDY-VETO LLC. The buyer was self-represented.
“As the retail industry continues to evolve, we continue to see investor interest for well- located properties with strong demographics,” said Toomey. “Conejo Gateway was the perfect opportunity for an investor to acquire a center occupied primarily with daily needs tenants in an affluent neighborhood.”
The buyer plans to expand the property and has several options that include a grocery store and day- care tenants interested in the expansion area.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




