Premier Conejo Valley flex campus trades hands
JLL Capital Markets led the sale efforts for Lakeview Innovation Center, a premier mixed-use complex in a thriving biosciences hub of greater Los Angeles
LOS ANGELES, Sept. 17, 2024 – JLL Capital Markets has successfully closed the all-cash sale of Lakeview Innovation Center, a premier Class A research and development (R&D) and office property totalling 276,529 square feet on 22.1 acres in Thousand Oaks, California.
JLL represented the seller, and procured the buyer, a partnership between Alta West Partners and an affiliate of Glendon Capital Management and A2 Capital Management.
Renovated in 2023, Lakeview Innovation Center offers upscale amenities, including an on-site Equinox fitness club, Earthbar, pickleball court, walking trails, a tenant lounge, and multiple outdoor patio and collaborative spaces. The property is recognized for its sustainability, holding a LEED Gold certification, an Energy Star rating, and both Fitwel and UL Healthy Building certifications. Currently, Lakeview Innovation Center is leased to a diverse tenant base, including Marvell Technologies and Rawlings, who benefit from the property’s exceptional infrastructure, which includes lab-grade HVAC, excess power capacity, ample clear heights, loading docks and backup generators. Additionally, the property offers expansion opportunities with M2 zoning, supporting up to 123,000 square feet of additional density for life-science, R&D or office users.
The new ownership group, led by Steve Elson and Brad Pennington of Alta West, has extensive knowledge of the submarket and a successful track record in the office, life-science and R&D sectors. The team intends to make strategic upgrades to common areas, restrooms, signage and landscaping, positioning Lakeview Innovation Center as the top choice for leading, innovative companies seeking the highest quality lab and office environment in the market.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Executive Managing Director Michael Leggett, Senior Managing Director Jeffrey Bramson, Managing Director Andrew Harper and Director William Poulsen.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Alta West Partners
Alta West Partners, LLC (“Alta West”) is a commercial real estate investment and operating company based in Los Angeles, CA. Alta West relies on its direct experience and local expertise to achieve superior risk-adjusted returns. altawestpartners.com
About Glendon Capital Management
Glendon is an investment firm based in Santa Monica, California with approximately $5.5 billion in long-term, locked-up capital currently under management.
About A2 Capital Management
A2 Capital Management LLC (“A2”) is a private investment firm focused on credit and special situations equity opportunities within the commercial real estate, residential, and hospitality sectors. a2mgmt.com.
The firm invests across the capital structure of real estate assets, with a primary geographic focus on the Western US and Texas, as well as in real estate-related operating companies and structured products.