Local firm plans to expand Thousand Oaks retail plaza after $18M purchase

The seller was a private investor based in Woodland Hills

Aug.August 08, 2019 01:00 PM
DH Holdings founder David Horenstein and Conejo Gateway
DH Holdings founder David Horenstein and Conejo Gateway

A Century City-based development firm that specializes in retail centers has found its latest project in Thousand Oaks.

DH Holdings paid $18 million to acquire the Conejo Gateway, where it’s planning on expanding the 43,200-square-foot plaza to potentially include a grocery store and day care center. Commercial brokerage JLL, which brokered the deal, announced the sale Thursday.

The seller of the complex at 701 Wendy Drive was Wendy-Veto LLC. The LLC traces back to Don Kinder, owner of Woodland Hills-based Toibb Enterprises.

Conejo Gateway is fully leased to tenants including Dollar Tree, O’Reilly Auto Parts and Anytime Fitness.

Tom Lagos and Patrick Toomey of JLL represented the seller. DH Holdings, led by founder David Horenstein, represented itself.

In March, another retail plaza in the suburban Thousand Oaks sold for $14.4 million. Anchored by an Office Depot, the 33,700-square-foot complex sold to Agora Realty & Management. It was 96 percent occupied at the time.

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