Westlake Oaks Campus is a two-building corporate campus totaling 212,000 rentable square feet. The buildings consist of 120 Via Merida and 4553 La Tienda. Situated on a campus-like setting totaling 20.2 acres, the corporate headquarters quality asset is located in the thriving Westlake Village submarket, and is neighbored by the Promenade Shopping Center and Four Seasons Resort.
The Class A office campus by Younan Properties has exceptional access to the surrounding affluent communities of Westlake Village, Thousand Oaks, Agoura Hills, and Calabasas, which are recognized as premier addresses for companies located within the West Los Angeles Valley. Westlake Village has captured nearly 50% of the overall net absorption within the entire Conejo Valley since the beginning of 2011, maintaining an average historical occupancy of approximately 90%.
Located on three separate parcels, including excess land with the intent for redevelopment, the office building has a prominent identity with access alongside the Ventura (101) Freeway and is well-positioned to attract tenants from neighboring cities with unparalleled convenience. World-class amenities include abundant parking with key-card access, an outdoor garden and courtyard, conference and meetings rooms, on-site engineering, and on-site security.
The Conejo Valley office market continues to see positive signs towards sustained growth. Its existing tenant base consists primarily of companies who migrated from the greater Los Angeles area in search of greater quality of life, lower cost of business and living, access to a highly educated labor pool, and a cleaner environment. Younan Properties was successful in acquiring this asset at a very favorable price that was far below the market replacement value with a great yield. The portfolio was 53% occupied at the time of the acquisition, with Anthem fully occupying La Tienda.