Calabasas, CA – March 2, 2021 – The Lee & Associates-LA North/Ventura brokerage team led by firm principal Jay Rubin and Associate Eugene Kim today announced the successful close of a Class A office building in Calabasas. The two-story, 46,899 square-foot building located at 26050 Mureau Road has closed for $12.7 million ($271 per square foot). The class A office building which sits on 1.59 acres in the center of the luxurious Calabasas neighborhood is adjacent to the 101 Ventura Freeway.
 
Rubin and Kim represented the seller, Crusader Insurance Company in the transaction. Craig Miller and Todd Cobin of Stone Miller represented the buyer.

“Calabasas has become one of the most sought-after communities in Los Angeles. There isn’t a lot of comparable product in Calabasas so we knew that there would be a strong interest from owner-users taking advantage of the opportunity to purchase a Class A property with compelling tax incentives, easy access to LA, great amenities and lifestyle, and a robust workforce,” said Rubin. “With the evolution in the office market we are experiencing, companies are looking for these types of opportunities to invest in an office that gives them greater control of their environment and flexibility for their business.”
 
The high-end property was built in 1997 and was designed with a training center, boardrooms, fitness center, server rooms, employee lounge, and outdoor patio. The property is located in a park-like office campus and has 157 parking spaces, an elevator, and a fully sprinklered fire life safety system. The high-image corporate headquarters and highly improved plug-and-play office with furniture systems are also desirable features of the property.
 
“Despite the uncertainty of the office market created by the pandemic, we were pleased to deliver a successful and smooth transaction that went under contract within weeks of listing with multiple offers,” adds Kim.

To learn more about Lee & Associates - LA North/Ventura, Inc., please visit lee-associates.com.

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About Lee & Associates - LA North/Ventura, Inc.  
Celebrating 40 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada. With more than 900 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Lee & Associates-LA North/Ventura, Inc. provides industrial, office, retail and multifamily/investment and development land brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. For more information, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.