Large commercial building sold in Thousand Oaks

The Tri-County office of CB Richard Ellis recently announced that it assisted with the sale of a large building in Thousand Oaks.

The 49,000squarefoot industrial property at 2101 Corporate Center Drive was sold by the Wood Family Trust to Panattoni Development Co. for $7.2 million. Panattoni plans to convert the building into full office use.

Commercial real estate veterans Ken Ashen and Nick Gregg assisted both the buyer and seller in the sales negotiations.

Panattoni is a privately held, fullservice development company that develops, leases, owns and manages industrial, office and retail projects in more than 150 cities throughout the United States, Canada and Europe.