June 1, 2020
Wave Enterprises, a 501(c)(3) charitable entity of Pepperdine University, acquired two office buildings in the Malibu Professional Park for $17.5 million. The buildings are located at 23805 and 23815 Stuart Ranch Rd. and total 39,615 square feet. NKF and Beitler Commercial Realty Services arranged the sale on behalf of Miramar Property Investment Company.
The buildings were nearly 85% leased at the time of sale with a strong mix of office and medical tenants, including UCLA Medical, Pepperdine University and various local business firms.
Beitler Commercial Realty Services’ Tony Dorn and NKF’s A.J. Dorn, who are also the leasing agents on the property, co-represented the seller.
“Malibu Professional Park is the largest privately-owned office campus in Malibu, and benefits from its convenient location and proximity to Malibu’s finest restaurants and shopping,” said A.J. Dorn. “As an existing tenant at the property, Pepperdine is the ideal owner for the project long term.”
*Pictured 23805 Stuart Ranch Rd.
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