Towbes Group Acquires 2 Industrial Buildings

A pair of industrial buildings known as the Block Distribution Center, located on Seaborg Avenue near Olivas Park Golf Course in Ventura, have been acquired by Michael Towbes of the Towbes Group of Santa Barbara.

The Towbes Group is a development, construction and asset management company that has been in business for 40 years. The firm currently manages 750,000 square feet of commercial space and more than 1,500 apartment units. Almost all of Towbes' development has been in Ventura, Santa Barbara and San Luis Obispo counties.

The recently purchased buildings, 3036-3112 Seaborg Ave., are fully occupied by several companies: Valex, a manufacturer of stainless steel precision tubing; 1 Mark, a pepper-spray manufacturer; Big Dog, USA, a clothing manufacturer; and Block & Co., which makes plastic components for the banking industry.

The asking price for the buildings was $3.69 million. The purchase price was not disclosed.

CB Commercial Real Estate Group in Ventura represented both the seller, Block & Company Inc. of Wheeling, Ill., and Towbes.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
60°