Westlake Bank of America Campus Trades to Drawbridge

San Francisco’s Drawbridge Realty has acquired a two-story, 253,720-square-foot single tenant office building in Westlake Village, CA, fully leased to Bank of America through 2031. The purchase price was undisclosed.

Bank of America employs approximately 1,000 employees at the property, located at 31303 Agoura Rd. fronting the 101 freeway. Drawbridge acquired the net lease asset using a portion of a $240-million equity commitment secured by the company in 2019.

CBRE’s Todd Tydlaska, Sean Sullivan, Mike Longo and Anthony DeLorenzo of CBRE’s El Segundo office represented the seller.

According to Drawbridge’s Chris Elmendorf, “Bank of America has occupied this campus for over 15 years. The company’s current 11-year, triple-net lease, combined with the underlying value of the site’s 19.6 acres positioned adjacent to Highway 101 creates durable cash flow and long-term value for Drawbridge.”

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