The Johnston Group Buys Thousand Oaks Plaza

Planning extensive refurbishment of the 64,000-square-foot office park, the Johnston Group of Calabasas has purchased the Thousand Oaks Plaza from the Metropolitan Life Insurance Co. for $5.5 million.

The property is located at 100 E. Thousand Oaks Blvd.

Mike Slater, vice president of the Ventura-based CB Commercial Real Estate Group, which represented Metropolitan Life in the transaction, said the Johnston Group was one of more than a dozen interested buyers.

CB Commercial will remain with the property, handling the leasing of the office park for the Johnston Group, which has nine additional properties in the area.

“With 35% of the complex vacant, it has the most space available of any building in the local market,” Slater said. “This is an advantage in a tight market and was one of the factors that attracted the Johnston Group to the property.”