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Westlake Park Place

Westlake Park Place Secures Buyer for $81M

Westlake Park Place, a five-building office campus in Westlake Village, recently sold for $80.8 million. The buyer was a partnership between Amstar and Searles Property Group.

Newmark’s Kevin Shannon, Rob Hannan, Ken White and Laura Stumm represented the seller, Invesco Real Estate.

“Westlake Park Place represents one of the elite office environments in the Conejo region,” says Shannon. “The property experienced tremendous momentum during the last 16 months, executing new or renewed leases for almost 30 percent of its net rentable area. This tremendous leasing momentum post-COVID-19 was attractive to potential investors.”

Delivered in 2008, Westlake Park Place is among the newest office developments along the 101 Corridor, adjacent to Westlake Commons and Caruso’s Promenade at Westlake. The project, sitting on more than 13 acres, comprises 239,003 rentable square feet and is approximately 85 percent leased to a diverse mix of tenants, headlined by multiple prominent wealth management advisers.

Westlake Park Place caters to a wide range of tenant sizes. It offers an outdoor courtyard, on-site tenant amenities and 840 parking spaces. The property also has walkable access to the retail amenities directly across Townsgate Road.

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Kevin Shannon

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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