Jafra Cosmetics Headquarters Building in Westlake Village Sells for $28 Million
Original Article Here
The 126,238-square-foot office and warehouse facility that houses Jafra Cosmetics’ headquarters in Westlake Village has sold for $28.2 million, or $223 per square foot.
Located at 2451 Townsgate Road, the two-story building is situated on a 9.6-acre parcel and boasts signage visibility from and immediate access to the 101 freeway.
Seller Jafra Cosmetics International Inc. occupied the building at the sale’s completion, and the beauty products company will leaseback about 46,000 square feet of office space to retain its corporate headquarters there. New owner PS Southern California One Inc. plans to develop the remaining portion of property into a Public Storage facility.
NAI Capital Chief Executive Officer Tim Foutz, Senior Vice President Ken Simons, Executive Managing Director Chris Jackson and Executive Vice President Todd Lorber with NAI Capital’s Investment Services Group represented PS Southern California One. Foutz and Simons represented Jafra.
“This was an excellent opportunity for my client to sell this asset they held for a long time, take their profits and redeploy them into their business,” Simons said in a statement.
Added Jackson: “Demand for self-storage facilities remains strong. And with the industrial market being extremely tight, quality product is hard to find.”
The 126,238-square-foot office and warehouse facility that houses Jafra Cosmetics’ headquarters in Westlake Village has sold for $28.2 million, or $223 per square foot.
Located at 2451 Townsgate Road, the two-story building is situated on a 9.6-acre parcel and boasts signage visibility from and immediate access to the 101 freeway.
Seller Jafra Cosmetics International Inc. occupied the building at the sale’s completion, and the beauty products company will leaseback about 46,000 square feet of office space to retain its corporate headquarters there. New owner PS Southern California One Inc. plans to develop the remaining portion of property into a Public Storage facility.
NAI Capital Chief Executive Officer Tim Foutz, Senior Vice President Ken Simons, Executive Managing Director Chris Jackson and Executive Vice President Todd Lorber with NAI Capital’s Investment Services Group represented PS Southern California One. Foutz and Simons represented Jafra.
“This was an excellent opportunity for my client to sell this asset they held for a long time, take their profits and redeploy them into their business,” Simons said in a statement.
Added Jackson: “Demand for self-storage facilities remains strong. And with the industrial market being extremely tight, quality product is hard to find.”
Oxnard–Thousand Oaks–Ventura Metropolitan Statistical Area
Ventura County
Nonfarm jobs up 3,000 over the month; down 24,000 over the year
The unemployment rate in the Ventura County was 6.3 percent in November 2020, down from a revised 6.9 percent in October 2020, and above the year-ago estimate of 3.4 percent. This compares with an unadjusted unemployment rate of 7.9 percent for California
Between October 2020 and November 2020, total nonfarm increased from 291,300 to 294,300, a gain of 3,000 jobs. Agricultural employment lost 500 jobs.
Between November 2019 and November 2020, total nonfarm employment decreased by 22,600 jobs. Agricultural employment decreased by 2,400 jobs.
Source:
State of California
EMPLOYMENT DEVELOPMENT DEPARTMENT
Labor Market Information Division
Ventura County
Nonfarm jobs up 3,000 over the month; down 24,000 over the year
The unemployment rate in the Ventura County was 6.3 percent in November 2020, down from a revised 6.9 percent in October 2020, and above the year-ago estimate of 3.4 percent. This compares with an unadjusted unemployment rate of 7.9 percent for California
Between October 2020 and November 2020, total nonfarm increased from 291,300 to 294,300, a gain of 3,000 jobs. Agricultural employment lost 500 jobs.
- Trade, Transportation & Utilities reported the greatest month-over-month jobs gained (1,700).
- Educational & Health Services added 1,300 jobs over the month.
- Professional and Business Services reported a gain of 300 jobs.
- Construction, Government and Manufacturing each added 200 jobs.
- Information remained flat.
- Financial Activities shed 300 jobs.
- Leisure & Hospitality lost 600 jobs.
Between November 2019 and November 2020, total nonfarm employment decreased by 22,600 jobs. Agricultural employment decreased by 2,400 jobs.
- Leisure & Hospitality reported the greatest year-over-year jobs lost 6,500.
- Government lost 6,000 jobs.
- Trade, Transportation & Utilities shed 5,000 jobs.
- Manufacturing lost 1,500 jobs.
- Information lost 800 jobs.
- Financial Activities shed 600 jobs.
- Educational & Health Services lost 300 jobs.
- Professional and Business Services lost 100 jobs.
- Construction remained flat.
Source:
State of California
EMPLOYMENT DEVELOPMENT DEPARTMENT
Labor Market Information Division