• $16,000,000

    Sale Price

  • 06/02/2021

    Closing Date

  • 71,402

    Square Feet

  • Office

    Property Type

  • 8.42 Years

    WALT

  • 100%

    Occupancy

$16,000,000

Sale Price

06/02/2021

Closing Date

71,402

Square Feet

Office

Property Type

8.42 Years

WALT

100%

Occupancy

Sale Summary

Address

  • 2560 Teller Road
    Thousand Oaks, CA 91320

Sale Details

  • Sale Price$16,000,000
  • Sale Price PSF$224
  • BuyerThe Korda Group
  • SellerFelton Properties

Address

  • 2560 Teller Road
    Thousand Oaks, CA 91320

Sale Details

  • Sale Price$16,000,000
  • Sale Price PSF$224
  • BuyerThe Korda Group
  • SellerFelton Properties

Sale Description

The Property is 100% NNN-leased to Frontier Communications (“Frontier” or “Tenant”) (NASDAQ: FTR) through September 2029. Frontier Communications is a publicly traded Fortune 500 telecommunications company providing service in 29 states.

Frontier emerged from chapter 11 bankruptcy just before the transaction closed, and now is a much stronger company with $11 billion less debt and $1 billion less annual interest expense.

The Property is 100% NNN-leased to Frontier Communications (“Frontier” or “Tenant”) (NASDAQ: FTR) through September 2029. Frontier Communications is a publicly traded Fortune 500 telecommunications company providing service in 29 states.

Frontier emerged from chapter 11 bankruptcy just before the transaction closed, and now is a much stronger company with $11 billion less debt and $1 billion less annual interest expense.

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Deal Team

Portrait of Sean Fulp

Sean Fulp

Executive Managing Director

CA RE Lic. #01389064

Portrait of Ryan Plummer

Ryan Plummer

Managing Director

CA RE Lic. #01765854

Portrait of Mark Schuessler

Mark Schuessler

Managing Director

CA RE Lic. #02033871

Portrait of Ryan Tetrault

Ryan Tetrault

Associate

CA RE Lic. #01996711