Jamison Lands Valley Office Properties
California Market Center owner Jamison Properties has acquired two San Fernando Valley office buildings for $31 million from Westoaks Associates LP, according to Los Angeles–based broker Madison Partners.
The sale includes a 93,000-square-foot, four-story office building at 15315 Magnolia Blvd. in the Atrium in Sherman Oaks, Calif., and the Westhills Plaza, an 84,000-square foot, three-story building at 20700 Ventura Blvd. in Woodland Hills, Calif.
Both buildings are about 90 percent occupied.
A Madison representative said the transaction offers Jamison value-added opportunities for lease-up of unoccupied space and increases from under-market rents at maturity.
Los Angeles–based Jamison purchased the CMC earlier this year for about $135 million. —Robert McAllister
