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Avison Young completes off-market building acquisition on behalf of County Schools Federal Credit Union in Ventura, CA9 Sep 2020
Los Angeles, CA – Avison Young announced today that it has completed the off-market sale of a 2,480-square-foot (sf) single-tenant retail building located at 3954 E. Main Street in Ventura, CA, on behalf of its client, County Schools Federal Credit Union (CSFCU). The site will be completely renovated and will serve as CSFCU’s new headquarters as well as a store location.
Avison Young Principal Hayden Eaves along with Kristen Sullivan and Matthew Spear, who are all based out of the firm’s downtown Los Angeles office, represented CSFCU. The seller, a private investor from Texas, was represented by Dustin Dammeyer of Dammeyer & Associates.
CSFCU will be relocating and downsizing from its current, 9,600-sf headquarters that is just a mile away. The new space will include a banking area for its customers, conference room, and office space.
“The trend for financial institutions has been to right size their space as technology and remote work options provide the opportunity to create better efficiencies,” said Eaves. “We are pleased to have identified this ideal prime Ventura location for our long-time client, CSFCU, who seeks to continue to add small store locations within Ventura County to better serve its growing membership base.”
Sullivan added, “This vacant property was in escrow for months with another buyer who had been continually requesting extensions on the closing date. We saw that this ‘diamond in the rough’ asset was ideal for our client. Ultimately, we were able to secure this property, creating a winning situation for both our client and the seller.”
“CSFCU’s overall strategic direction is to be highly efficient in order to better utilize our members’ capital. That principle, along with our desire to increase our visibility within the community we serve, were the driving forces behind finding our future location,” said John Bagents, CEO of CSFCU. “Avison Young helped us find the perfect situation to accomplish our objectives. The team has been a great partner over the years, understanding who we are and how that translates into our physical footprint.”
Built in 1963, the highly visible, single-story building is situated on .18 acres and is located on one of the most travelled streets in Ventura. It is near the 101 freeway and is approximately six miles from Oxnard Airport.
About County Schools Federal Credit Union: CSFCU is a member-owned, not-for-profit financial cooperative located in Ventura County. The credit union offers affordable financial services and great rates with a personal touch. Founded in 1960, CSFCU has served the local community for 60 years, supporting education and promoting financial literacy. In 2020, CSFCU was named to Forbes’ list of Top Credit Unions in California, ranking #3 in the state.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises thousands of real estate professionals in more than 100 offices around the world. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
• Darcie Giacchetto, Places Public Relations: 949.278.6224