Westlake Industrial Park Purchased for $7 Million

A Westlake industrial park has been purchased by Los Angeles investors for $7 million.

Tyler Pacific of Los Angeles has acquired the five-building, 118,000-square-foot Westlake Business Park, which is on seven acres fronting Townsgate Road at Hampshire and Lakefield roads. RREEF Fund of San Francisco was the seller.

Westcord Westoaks Commercial Group in Westlake Village has been appointed to market the industrial park, which is 90% occupied. Available space ranges from 1,700 to 5,000 square feet.

According to Westcord officials, Tyler Pacific has initiated a substantial upgrading of the property, which will include new landscaping, painting and architectural improvements.