Newspaper’s Property Is Sold for $3 Million

The Ventura County Star has sold its 4 1/2-acre Thousand Oaks location for $3 million to a company that plans to open a fitness center on the site.

The property at 2595 Thousand Oaks Blvd. consists of the newspaper building plus three smaller buildings, totaling 40,000 square feet. AVG Partners, which purchased the property, plans to tear down the smaller buildings.

24-Hour Fitness has signed a lease and will remodel the 31,000-square-foot newspaper office, opening a fitness center later this year. The Star will move its distribution operation to Newbury Park and its news bureau to midtown Thousand Oaks.

Daum Commercial Real Estate Services represented both the buyer and BRV Inc., the parent company of the Ventura County Star, in the transaction.