Conejo Valley Dealing.

The Johnston Group based in Calabasas has been both an active buyer and seller of Conejo Valley real estate of late.

The company recently sold its 42,000-square-foot Malibu Canyon Plaza retail/office project in Calabasas for $8.3 million to Ephram T. Nehme. The deal follows the company's sale earlier this year of the 108,000-square-foot Westlake Spectrum.

"We built the plaza in 1989 to provide restaurant and retail conveniences to our nearby office parks. The retail component no longer fits its portfolio," company President Jeff Johnston said in a statement. "We continue to expand our primary business of developing and managing office parks."

The Johnston Group also just purchased two office buildings totaling 83,000 square feet from Pacifica Real Estate Group at the corner of Westlake Boulevard and Townsgate Road in Westlake Village for about $11.9 million. And the company plans to build three new office buildings this year and next, one each in Calabasas, Westlake and Thousand Oaks, encompassing 175,000 square feet.

Ed Principle and Margie Jones of 222 Commercial Group represented the buyer in the Malibu Canyon Plaza deal. Michael Slater and Tom Dwyer of CB Richard Ellis brokered the Westlake Village deal.