Office Building

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 the 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.