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7/01/09
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TestEquity LLC, an electronic test equipment company, inked a NNN lease for 75.8k sf in a Conejo Valley R&D facility. The space is part of a larger, 114.6k sf building located at 6100 Condor Dr, south of the 118 Fwy and east of Moorpark Ave in the city of Moorpark. The seven-year deal has a value of $3.76 mil, or about $0.59/sf/mo.
TestEquity, which specializes in the sale and rental of new and used electronic test equipment, needed this new location to consolidate their existing four-building operation, currently based in Thousand Oaks. This new facility will become their headquarters location.
John DeGrinis, Patrick DuRoss and Jeff Abraham of Colliers International represented the landlord, Marcus Adams Properties, in the transaction. Mitch Conlee of Daum Commercial took care of brokerage duties for TestEquity.
According to DeGrinis, "R&D buildings have not seen much activity since the boom times of the tech
explosion in the early part of the decade. This is one of the largest transactions of its type in recent history for the Eastern Ventura County region." DeGrinis added, "R&D properties have higher proportions of office space, along with mezzanine floors, allowing for improved manufacturing operations typically associated with high-tech, electronic manufacturing uses."
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