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$1.2M Retail Transaction Closes in Thousand Oaks, As More Businesses Seek Small Business Space
Leasing activity increasing and investments in retail space higher than pre-COVID times, according to Cheri Blessing, principal, Lee and Associates- LA North/Ventura
"Thousand Oaks continues to see strong sales and high demand for retail buildings. As challenging as the COVID-19 pandemic was for many small business owners, some saw it as an opportunity to take a risk and find a building of their own or lease a new space." said Blessing. "This property was an outstanding opportunity for a small business owner seeking a building in the area. The location has great exposure and signage and is perfect for an owner/user investment."
Originally built in 1958, the building sits on an approximately 8,700 SF parcel on the corner of Cunningham Blvd. and Thousand Oaks Blvd. The buyer plans to use the space for a guitar business, Lovies Guitars.
"Even with low inventory for buildings, many are still seeking to buy property in desirable locations in Ventura County," adds Blessing. "For many of my clients, the potential for recovery outweighs their fear of investing into their own spaces for their small-to-medium-
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