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Miramar Property Investment Co. Sells Two Office Assets in Malibu for $17.5M

23805-Stuart-Ranch-Rd-Malibu-CA

At the time of sale, the office buildings at 23805 and 23815 Stuart Ranch Road in Malibu, Calif., were 85 percent leased.

MALIBU, CALIF. — Miramar Property Investment Co. has completed the sale of two office buildings located within Malibu Professional Park in Malibu. Wave Enterprises, a 501(c)(3) charitable entity of Pepperdine University, acquired the assets for $17.5 million.

Located at 23805 and 23815 Stuart Ranch Road, the buildings offer a total of 39,615 square feet. At the time of sale, the properties were nearly 85 percent leased to a variety of office and medical tenants, including UCLA Medical, Pepperdine University and various local business firms.

Tony Dorn of Beitler Commercial Realty, along with A.J. Dorn of Newmark Knight Frank, represented the seller in the deal.

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