The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
August 10, 2020
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



VENTURA COUNTY NEWS
Printer-friendly Version   Email an Associate
Thousand Oaks Land Buy to Be Used for Industrial Condo Development

4/29/14

Conejo Merchant Ltd has acquired nearly eight acres of land in Thousand Oaks for the development of a hybrid commercial planned development and commercial condominium complex on Conejo Center Drive. The price of the land buy was given out.

The planned industrial development is expected to contain 75k sf of industrial space consisting of seven free standing buildings ranging in size from 4k sf to 8k sf and commercial condominiums ranging in size from about 1.8k sf to 3k sf, designed to accommodate demand in the market, where vacancy levels have been declining for over a year.

The seller, the City of Thousand Oaks, divested the parcel with industrial zoning in place, allowing for a relatively swift timeline for completion. Conejo Merchant expects to break ground in the fourth quarter of this year with a planned completion date in mid-2015. The concrete tilt-up free standing buildings and condominiums are sized to accommodate the types of small-to mid-sized users that are typically found in the Conejo Valley.

Mike Tingus, president, and Grant Fulkerson, principal, of Lee & Associates-LA North/Ventura represented both the buyer and seller in the transaction. Conejo Merchant is a joint enterprise of Martin Teitelbaum, a prolific Ventura County industrial developer and Hugh Cassar, a dynamic local entrepreneur and philanthropist. Teitelbaum and Cassar are also planning to break ground on another industrial project in Agoura Hills next year.

Industrial vacancies in the Thousand Oaks/Newbury Park submarket fell to 5.5 percent in the first quarter of 2014, descending from the 6.4 percent level in the fourth quarter of 2013, according to Lee & Associates. Similarly, both lease rates and sales prices have been rising. There is virtually no new industrial product for sale in the submarket.





Return to the Archive page


 


 


 
The Foto Finisher

 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media