62,000 SQFT Office Building on Market in Thousand Oaks With $13.65MM Asking Price

Thousand Oaks, Lee & Associates, Los Angeles, Valle Vista, ADRx Inc., Advanced Networks LLC, Slack and Associates, The Oak, Marin Business Center, Younan Business Center

By Catherine Sweeney 

An office building in Thousand Oaks that last traded in 2014 has once again been placed up for sale. A listing for the property from Lee & Associates shows that the 62,073 square foot Valle Vista building is listed with an asking price of $13.65 million, or approximately $220 per square foot. 

The property is located at 515 Marin St. on nearly 3.5 acres. Built in 1985, the building totals four stories and also includes parking for up to 188 vehicles. 

At about 87 percent occupied, the property also includes a mix of office tenants, such as ADRx Inc., Advanced Networks LLC, Slack and Associates and several others. 

The property is also surrounded by various other commercial office buildings like the Marin Building Center and the Younan Business Center. In addition, the building sits just north of Interstate 101 and near various retail amenities, including The Oak shopping mall. 

Public records show that the property last traded in 2014. At that time, it was acquired by an entity affiliated with Nearon Properties for an undisclosed amount. 

Nearon Properties is a Walnut Creek-based investment firm with roots that date back to 1945, according to the company’s website. Currently, Nearon oversees more than $1 billion in assets, with properties in the Bay Area, Southern California, Utah, Arizona and Colorado. Overall, the company’s portfolio consists of more than 30 properties totaling 5.5 million square feet.