One Capital Management Relocates HQ

By Razvan Cimpean

2945 Towngate Road in Westlake Village, Calif.

One Capital Management signed an 8-year, 9,000-square-foot office lease in the second phase of Westlake Park Place in Westlake Village, Calif. The company will relocate its headquarters from Phase I of the office park this December. In the move, One Capital will double the space of its headquarters.

“As we planned our expansion, we knew that maintaining our presence in this prime location would support our ability to hire and retain the best talent, while also continuing our history of delivering the highest level of service to our clients,” Patrick Bowen, president of One Capital Management, said in a prepared statement.

Eight-building office campus

Located at 2945 Towngate Road, the property sits next to the Ventura Freeway and the Westlake Plaza and Center. Built in 2008, the Class A office building is part of the Westlake Park Place office campus, incorporating eight buildings with more than 450,000 square feet, combined. Tenants at Phase II include Regus, Dole Packaged Foods and PennyMac Loan Services. The asset features 264 parking spaces.

According to Yardi Matrix data, Invesco Real Estate acquired the asset as part of an estimated $98 million portfolio transaction that included approximately 239,000 square feet of office space.

DAUM Commercial Real Estate Services’ Mike Foxworthy and Craig Cahow represented both the tenant and landlord in this transaction. Earlier this month, DAUM also negotiated the sale of a 104,000-square-foot Los Angeles industrial building.

Image courtesy of Yardi Matrix