CALABASAS, CALIF. — Newmark has negotiated the sale of Calabasas Courtyard, a three-building office campus in Calabasas, approximately 30 miles west of Los Angeles.
AEW Capital Management sold the asset to Calabasas Courtyard LLC, a partnership between Brian Forster of Pacific Partners Commercial, Tony Principe of Westcord Commercial and private investor John Cataldo. The price was not disclosed.
Located at 5000 Parkway Calabasas, the 129,789-square-foot campus was 68 percent leased at the time of sale. The buyer plans to upgrade and modernize the commons areas of the three buildings, as well as the individual suites.
Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Michael Moll and Alex Beaton of Newmark represented the seller in the transaction.