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LOS ANGELES — Penwood Real Estate Investment Management has acquired a 347,119-square-foot industrial building in the Los Angeles submarket of Thousand Oaks for $44 million. The building is located at 1461 to 1475 Lawrence Drive in the master-planned Conejo Spectrum Business Park.
The asset was built in 1962 and renovated in 2000. It is fully occupied by four tenants, including Sensata Technologies, LAC Group, Kanner Corp. and MB2 Raceway.
NKF represented the seller, while Penwood represented itself in this transaction.