Harbor Associates lands 2 suburban office buildings for $56M

The firm partnered separately with Goldman Sachs, Blue Vista Capital Management

Commons at Valencia Gateway, Conejo Corporate
Commons at Valencia Gateway, Conejo Corporate

In separate joint ventures, Harbor Associates, a Long Beach-based investment firm, paid a combined $56 million for two suburban office buildings in Valencia and Thousand Oaks. Both properties will be renovated.

In Valencia, Harbor teamed with Goldman Sachs Asset Management Private Real Estate. The pair paid Barings $33.1 million for a two-building, 156,630-square-foot office campus. Called Commons at Valencia Gateway, it is located at 25124 – 25125 Springfield Court. The complex is 81 percent leased to 15 tenants, including anchor tenant KB Studio.

Tom Bohlinger, Ryan Smith and Justin Hager of JLL represented Barings in the transaction.

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In Thousand Oaks, Harbor teamed up with Blue Vista Capital Management to acquire the Conejo Corporate Campus at 2380 and 2400 Conejo Spectrum Street. The joint venture paid $22.9 million for the 198,500-square-foot campus.

Kevin Shannon and Scott Schumacher of Newmark Knight Frank represented the seller, Cusamano Real Estate Group, in the transaction

Harbor, a value-add investment firm, plans to renovate both properties. In addition to the recent purchases, Harbor manages $2.5 billion in assets spread among 3 million square feet of office space. Elsewhere in California, Harbor owns a 36,680-square-foot office building in Lake Forest and 32,300-square-foot campus in San Diego.