Investors acquire land, plan office building





Citing a "critical shortage of Class A office space in the immediate corridor," a local investment group has acquired property on Thousand Oaks Boulevard in Thousand Oaks previously occupied by Rubber Duck Auto and Tire Repair for $3.1 million and plans to redevelop the site into a 60,000 square-foot office building. The three-story structure is expected to have an estimated value of $10 million upon completion.


Officials of Westlake Village-based Westcord Commercial Real Estate Services, which represented both the buyer and the seller, reported that Directors LLC, a group managed by local residents Robert Hamilton and Frances Prince, purchased the 3.2-acre site at 299 Thousand Oaks Blvd. that includes the 14,000 square-foot building formerly occupied by the auto shop.



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