LOS ANGELES — Harbor Associates and Gemdale USA have purchased Agoura Hills Business Park, an office campus located at 30401–30501 Agoura Road in the Agoura Hills submarket of Los Angeles, for $29.7 million.
Built in 1987 on six acres, the 113,991-square-foot campus consists of two two-story office buildings around a central plaza and a 193-car parking lot.
The acquisition represents the recapitalization of the office property, which Harbor Associates originally purchased in January 2020 in a joint venture with a Kansas City-based real estate investment firm. The sale represents Harbor’s exit from the investment after meeting its business plan.
Matt Heyn and Caitlin Hoffman of CBRE will lease the property on behalf of Gemdale USA and Harbor. Andrew Harper, Will Poulsen, Matt McRoskey and Chad Solomon of JLL represented the seller in the transaction.