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Executive Center of Simi Valley
1445 E Los Angeles Avenue, Simi Valley, CA 93065
- For Sale $8,250,000
- Property Type Office - Medical Office
- Year Built 1978
- Date Updated Sep 26, 2021
- Website 1445la.com
Marcus & Millichap is pleased to present the opportunity to acquire 1445 LA Ave, a 41,907-square-foot highly desirable suburban office located in Simi Valley, California. The property benefits from its excellent Simi Valley location, walkable to local shopping centers, restaurants, and other amenities nearby. Currently operating at 92.4% occupancy, the building features a stable tenant roster that has been resistant to the new work-from-home COVID-19 environment.
New ownership of 1445 LA Ave will benefit from a tremendous opportunity to boost near-term returns. As tenants roll, the investor can increase the rentable square footage by 5,162 square feet by establishing a market load factor (BOMA measurement completed May-2021), and, in turn, add approximately $1.2 million in future value. Ownership will also be able to begin collecting market standard CAM reimbursements, totaling approximately $31,000 by Year 3.
The next owner of 1445 LA Ave will be acquiring a highly desirable suburban office building with an opportunity to boost near term returns and capitalize on the asset’s strong occupancy record in one of the most desired suburban locations across California.
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- City Simi Valley, CA
- Zip Code 93065
- Market Los Angeles
- Premium Simi Location with Walkable Amenities
- Post Covid-19 Desirable Boutique Suburban Office
- 92.4% Occupied with Strong Historical Occupancy
- Small Footprint Suites Match Market Demand
- Stable Tenancy Resistant to Work From Home
- Significant Reduction of Office Supply in Simi Valley
Frequently Asked Questions
What is the total square footage of Executive Center of Simi Valley?
Executive Center of Simi Valley totals 41,907 square feet.
When was this property built?
Executive Center of Simi Valley was built in 1978.
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