Majestic Asset Management, Inc.

Management • Investments • Development

Simi Warehouse Sells for Nearly $17 Million

A nearly 139,000-square-foot warehouse has sold in Simi Valley for $16.5 million. The industrial building at 2390 Ward Ave. sold in an off-market deal to Rexford Industrial Realty Inc., an industrial-focused real estate investment trust in Los Angeles, for almost $119 a square foot, according to Rexford. The seller was Majestic Asset Management Inc. of Agoura Hills, which bought it in 2012 for about $58 a square foot, or half the current selling price.

Redondo Beach Retail and Office Property Sold by Madison Partners for $5,800,000

Redondo Beach, California, August 3, 2016: Madison Partners announced today that it has completed the $5.8 million sale of 2772 Artesia Boulevard, a 17,000 SF neighborhood retail and office property in Redondo Beach, California. Madison Partners' Bob Safai, Matt Case, and Brad Schlaak brokered the transaction on behalf of the seller, Majestic Asset Management. The asset was purchased by a local private investor.

Majestic Asset Management, Inc. & JS/JS Properties, Inc. Acquire the Townsgate Business Park.

The Townsgate Business Park is located in Thousand Oaks, CA. The building is 73,888 SF spread over 5.30 acres and ideally situated on Townsgate just west of Westlake. The property will undergo an extensive renovation to the landscaping and exterior modernizing the asset and creating a “tech” feel with outdoor common areas. This represents the seventh property acquired by the Majestic/JS joint venture.