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The Real Deal Los Angeles

Atlas Capital scoops up office complex in Chatsworth

The New York firm paid $41M for the Chatsworth Business Center
By Dennis Lynch | July 09, 2018 10:00AM

The Chatsworth Business Center

Atlas Capital Group is spreading out in the Valley.

The New York-based firm paid $41.3 million for the 214,000-square-foot Chatsworth Business Center in Chatsworth late last month, according to property records. The sale came out to $193 per square foot.

It was the firm’s first purchase in the Valley since 2016. Atlas has mostly focused its Los Angeles investment Downtown, where it developed ROW DTLA.

The seller was Newport Beach-based WCB Properties, which paid $35.5 million for the four-building low-rise complex at 9121 Oakdale Avenue in 2006. The property was built in 1986.

Marketing materials from CBRE from 2016 list tenants that included the State of California, City of Los Angeles, home security firm ADT, and the University of West Los Angeles School of Law.

Atlas owns about a half-dozen properties downtown and a handful of others around the greater L.A. area, including a number of development sites. It developed ROW DTLA on Alameda Street near 7th Street over the last few years and has signed a number of trendy tenants there, including Adidas, Boston-based streetwear brand Bodega, and Spaces, Regus’ coworking brand.