Palisades Associates, a Santa Monica, Calif.-based real estate investment group, has paid more than $34 million for 465,000 square feet of industrial buildings in Thousand Oaks, Calif.

The properties are located at 1445 and 1465 Lawrence Drive at the 100-acre Conejo Spectrum.

On Royal Oaks LLC sold the buildings.

At the time of sale, the buildings were 75 percent leased. Prominent tenants include Baxter Healthcare, Teradyne and Alcatel.

CB Richard Ellis brokered the transaction.

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