2100-2180 Lynn Rd
Listing Price: $8,500,000.00
Marcus & Millichap has been selected, as the exclusive advisor, to present for sale 2100 & 2180 Lynn Road (the “Property”), a two medical office portfolio (both buildings will be sold together) totaling approximately 23,968 rentable square feet located in the suburb of Thousand Oaks, California. Positioned on campus of the Los Robles Hospital and Medical Center, a 382-bed acute care hospital with a level II trauma center, the Property offers a qualified investor a rare opportunity to acquire a highly desirable medical asset in an affluent and densely populated community with tremendous upside.
Built in 1986 and 1988, the buildings are situated on two large parcels of land totaling ~1.9 acres providing for ample surface parking, 5.05/1,000 SF and the potential to add additional square footage.
The Property is occupied by a mix of medical specialties; many of which have occupied the Property for over a decade. Historically, medical tenants rarely relocate which leads to reduced vacancy and turnover, leasing costs, and new tenant improvement expenses. No single tenant occupies more than 14.3% of the RSF and there are staggered lease expirations minimizing rollover exposure.
The property’s location is further enhanced by its easy access to the 101 freeway and immediate proximity to a multitude of retail amenities including Park Oaks Shopping Center- a 110,092 SF shopping center anchored by Vons Supermarket, Janss Marketplace- an outdoor community shopping and entertainment destination, and The Oaks Mall- an indoor/outdoor regional shopping mall with multiple dining and entertainment options.