Lee & Associates Transacts $2.7 Million Industrial Sale at Patriot Commerce Center in Moorpark, CA
MOORPARK, CA – April 19, 2011 – (RealEstateRama) — Lee & Associates-LA North/Ventura, Inc., transacted the sale of a 16,391-square-foot industrial building at 875 Patriot Drive in Moorpark, CA, the brokerage company’s third transaction at the center in a month, according to Lee President Mike Tingus and Principals Grant Fulkerson and Scott Linklater, who represented the developer, M.W. Ossola & Associates.
The property, located in the Patriot Commerce Center, was sold to the owners of ProDoc, a legal service document company with more than 100 employees and six production offices throughout California. The company will be relocating its Simi Valley facility to the new building. Tom Siciliano with TDS Management, Inc. in Burbank, CA represented the buyer.
Total consideration for the sale is $2,663,537.50.
“This building, as well as the others available at Patriot Commerce Center, are ideal for small and mid-sized users like ProDoc,” said Linklater, a principal at Lee & Associates. “And they offer amenities unparalleled anywhere in Ventura County. The project boasts Class A construction with immediate access to the 23 freeway in a location within walking distance to just about every retail amenity.“ While most of the buildings at Patriot Commerce Center are fully built out, the two units acquired by ProDoc were in shell condition allowing the buyer to build out the facility to its specifications.
“This was another important feature for the buyer because its business requires a unique build-out,” Fulkerson added.
Lee & Associates, which is exclusively marketing Patriot Commerce Center, also just closed the sale of a 1,476-square-foot industrial condominium and leased 1,142 square feet in the medical office building at the center. Patriot Commerce Center is a $105 million office, industrial and R&D business park in Moorpark with approximately 160,000 square feet of office and industrial/R&D buildings in its first phase.
About Lee & Associates – LA North/Ventura, Inc.
Celebrating more than 30 years of leadership in the commercial real estate industry, Lee & Associates®, is the largest broker-owned commercial real estate provider in the nation with 43 offices in California, Arizona, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, South Carolina, Texas and Wisconsin. Lee & Associates-LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/investment brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. Lee & Associates’ clients enjoy a comprehensive range of commercial real estate services including: sales and leasing; real estate investment consulting, property acquisition, disposition and 1031 exchange transactions; tenant representation and relocation, land assemblage, site selection, mixed-use and urban in-fill, property and portfolio evaluation and market research.
Foun ded in Sherman Oaks in 1994, Lee & Associates-LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us in the San Fernando Valley at 818.986.9800; in Ventura County at 805.626.1200; or in Antelope Valley at 661.341.3300. Or visit us online at www.lee-associates.com.
