August 18, 2017 Comments Off on Majestic Divests Pair of Assets for $67M Views: 1067 Los Angeles

Majestic Divests Pair of Assets for $67M

Agoura Hills, CA-based Majestic Asset Management sold two SoCal assets for more than $67 million. The transactions involve Sherman Plaza, a two-building office campus totaling 267,000 square feet in Van Nuys, and a 14,636 square-foot property at 4373 Park Terrace Dr. in Westlake Village’s The Campus@Westlake.

Vancouver, Canada-based Pacific Reach Properties acquired the 99%-leased 15350 and 15400 Sherman Way in Van Nuys (pictured) for $61.9 million. Pacific Reach Properties was self-represented, and is making its first U.S. office complex acquisition.

CBRE’s Troy Pollet and David Solomon represented the seller in the Westlake Village transaction, and co-represented Majestic with NKF’s Kevin Shannon, Ken White, Rob Hannan and Brad Burton in the Van Nuys deal.

In the roughly $5-million Westlake Village transaction, Westcord Commercial’s Tony Principe represented the buyer, Michael R. Schwartz, M.D.

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