Another commercial office property has been added to the market in the Greater Los Angeles area. According to a marketing brochure from Newmark, which is listing the asset, the 97,193 square foot property is listed for $22 million, or about $226 per square foot.
The property is located on at 2380 Conejo Spectrum within Thousand Oaks’ Conejo Spectrum submarket. The building is currently leased to Sage Publications until January 2026 and Atara Biotherapeutics until February 2026.
However, the listing also indicates that the property has potential for redevelopment. With current leases, the incoming owner has a two-year income window to offset space planning expenses.
The existing office structure showcases a 16-foot slab-to-slab ceiling height and a robust 100 -pound live load capacity on the second story. These attributes position the property as an ideal candidate for conversion, suitable for flex, life science and light industrial purposes, per the listing. Built in 2001, with recent renovations in 2019, the property sits on a six-acre lot, offering ample parking with convenient truck ingress and egress.
The property is situated within Conejo Spectrum, a well-established innovation hub catering to life science, flex and industrial users. The area is anchored by the renowned 2.9 million square foot Amgen Global headquarters, making it a sought-after micro-market housing some of the region’s most notable tenants. The Conejo Valley also currently boasts an industrial vacancy rate of just 2.7 percent, coupled with a consistent uptick in rental rates.
The area has seen other office sales recently. In a deal also brokered by Newmark, a property nearby at 2400 Conejo Spectrum recently sold to Ventura County. The 98,842 square foot property traded for $14.9 million, or about $150 per square foot, and is used for the Ventura County Fire Department.
