Introduction to Calabasas Industrial Portfolio
Six industrial buildings in Calabasas have come under new ownership after a nearly $27 million transaction.
Los Angeles-based Captiva Partners bought the three-property portfolio in the Los Angeles suburb for $26.5 million, L.A. Business First reported. Calabasas Investment Group and Craftsman Investment Group were the sellers.
The parcels are located at 23907–23947 Ventura Boulevard, 23930–23978 Craftsman Road, and 5101–5111 and 5115 Douglas Fir Road. Each building has rear bay loading doors with functional layouts inside. The portfolio totals 107,000 square feet and has 47 suites leased to multiple industrial tenants. The suites range in size from 1,300 to 5,200 square feet each.
Plans for the Portfolio
Captiva plans to upgrade the buildings, Captiva managing partner Brian Abers told Business First. The portfolio is “largest concentration of smaller space available in the Calabasas area,” according to Scott Caswell of Lee & Associates, who helped broker the deal. Tenancy at the properties has reportedly been stable.
Captiva Partners’ Recent Purchases
The acquisition marks Captiva Partners’ latest purchase in the Los Angeles area. Last year, the firm spent $16 million for a 66,400-square-foot warehouse site in North Hollywood. That 3-acre property at 8210-8222 Lankershim Boulevard boasts 41 warehouse suites ranging from 1,200 to 2,400 square feet each.
In 2022, Captiva bought another North Hollywood industrial park, Sherman Way Industrial Center, for $37 million. The 140,000-square-foot property spans 5.4 acres at 12612-12630 Raymer Street. The proceeds of that sale went to various charities as desired by the seller, The Ben B. and Joyce E. Eisenberg Foundation, according to L.A. Business First.
Later that year, Captiva turned its sights to the South Bay, buying an office and industrial building in Rancho Dominguez for an undisclosed price. That 9,000-square-foot property is on two adjacent parcels of industrial-zoned land spanning 60,000 square feet at 1957–2021 East Del Amo Boulevard.
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Conclusion
The acquisition of the Calabasas industrial portfolio by Captiva Partners marks a significant investment in the Los Angeles area. With plans to upgrade the buildings, the portfolio is expected to remain a stable and desirable location for industrial tenants.
FAQs
Q: Who bought the Calabasas industrial portfolio?
A: Captiva Partners bought the three-property portfolio for $26.5 million.
Q: Where are the parcels located?
A: The parcels are located at 23907–23947 Ventura Boulevard, 23930–23978 Craftsman Road, and 5101–5111 and 5115 Douglas Fir Road.
Q: What are Captiva Partners’ plans for the portfolio?
A: Captiva plans to upgrade the buildings.
Q: What is the total square footage of the portfolio?
A: The portfolio totals 107,000 square feet and has 47 suites leased to multiple industrial tenants.
