Newmark has announced it has completed the sale of Think Here, a 160,980-square-foot, Life Science/R&D office campus comprised of two buildings, located at 1525 and 1535 Rancho Conejo Boulevard in Thousand Oaks, CA. The property is located within Conejo Spectrum, a 2.8 million-square-foot office and industrial micro market that is one of the tightest throughout Ventura County.
The seller, Harbor Associates, was represented by Newmark’s Sean Fulp, Ryan Plummer, Mark Schuessler, Kevin Shannon, Rob Hannan, Michael Moll, Scott Schumacher and Laura Stumm. The buyer, a venture of Singerman Real Estate, LLC (SRE) and HATCHspaces, LLC was represented by Newmark’s Patrick DuRoss, John DeGrinis and Jeff Abraham.
Think Here is situated on 14.15 acres and is 71 percent occupied. The property includes one office building totaling 63,828 square feet and one 97,152-square-foot Life Science/R&D building. The property was renovated in 2000 and again in 2017/2018 with a significant renovation that included new lobby/corridor finishes, outdoor amenities, landscaping, signage and lighting, among other improvements.
“Think Here provides the buyers with a newly renovated, value-add asset within one of the fastest growing biotech hubs in the nation,” said Plummer. “The asset provides an opportunity for HATCHspaces to rebrand the asset as part of its growing portfolio of purpose-built life science facilities and utilize SRE’s experience in other life science clusters.”
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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