After years of ownership, Los Angeles-based Jamison is placing an 89,740 square foot commercial office building in Chatsworth on the market. According to CBRE, which is marketing the property, the building is listed with an asking price of $22.5 million, or approximately $250 per square foot.
Located at 19809 Prairie St., the property was built in 1992 and was last sold in 2011, when it was acquired by Jamison Properties for $8 million, according to public records. The building stands two stories and sits on a 2.5-acre lot with landscaping and a 294-space surface parking lot.
The listing shows that the property is 50 percent occupied by the United States Citizenship and Immigration Services Agency, with just over four years remaining on the lease. The other half of the building, however, remains vacant.
“The property offers either an owner-user or investment opportunity, as the partial occupancy allows an owner-user to purchase the property and mitigate their occupancy costs through the collection of rent as well as appreciation and tax benefits,” the listing states.
The office building is located in Chatsworth, a neighborhood north of downtown Los Angeles and within the San Fernando Valley. The property is primarily surrounded by a number of commercial properties. The site is also just east of the Northridge Fashion Center, which is home to various retail amenities.
According to the company’s website, Jamison owns and manages a real estate portfolio of approximately 100 commercial and medical office and retail properties throughout Southern California. The company’s development arm, Jamison Properties, has also developed numerous multifamily properties throughout Los Angeles.
In January, the company placed a 70,760 square foot office building in Los Angeles up for sale. The property is being marketed by Kidder Mathews, with an asking price for $20.87 million, according to The Registry’s previous reporting. Located at 4055 Wilshire Boulevard, the property has been owned by Jamison for decades and is occupied by multiple tenants, including Masters Realty Group, N K Dance Studio and USA Business Finance.
