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7/11/11
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Private National Mortgage Acceptance Co (PennyMac) has leased a 142k sf office building in the City of Moorpark, in what we’ve been told is the largest office lease so far this year in Ventura County. PennyMac leased the entire building, which is the former headquarters location for Cardservice International.
The deal is for five years and while we don’t have the actual value, we hear that the asking rate for the space was $1.85/sf/mo FSH. This would give the transaction a total price tag of well over $15 mil if we just multiplied these numbers together.
The building is located at 6101 Condor, east of Princeton Ave and just south of the 118 Fwy.
Tom Dwyer and Michael Slater of CB Richard Ellis represented the landlord, Calabasas BCD, in the transaction. According to Dwyer, PennyMac needed a larger building to support its future business plan.
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