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5/12/15
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Oakbrook Shopping Center is moving forward with a façade renovation as part of a multimillion dollar revitalization of the 34-year-old, 89k sf grocery-anchored center. Improvements at the center, located on the corner of Erbes Rd and Avenida de los Arboles in Thousand Oaks, are anticipated to complete late this summer.
The renovation plans, designed by Wolcott Architecture Interiors, entail modifying the original shopping center design with modern and energy efficient updates including new stucco, stone, and building colors, seating areas, store fronts, and drought tolerant landscaping. In addition, the anchor tenant, Vons, recently completely an interior remodel, including an upgraded floral and produce department with an increased organic selection, and enhanced bakery and deli department, and improved health and beauty collection.
The center, originally developed in 1981 by Dillingham Investments, is managed by Tiarna Real Estate Services. CBRE’s Scott Siegel, Larry Tanji, and Lisa Engel oversee the leasing for the shopping center and Invesco Real Estate is the investment manager.
"This renovation will result in a transformational repositioning of the property that will improve the customer experience for residents and customers within Thousand Oaks,” says Mike McAndrews of Tiarna Real Estate Services, Inc. “Additionally, as a good stewards of the environment, the project reduces the property's impact through energy efficiency and water conservation measures."
The center offers various restaurants and service stores including Bank of America, The UPS Store, Pegasus Fashion Lounge and Price Club 4 Pets. CBRE is in negotiations with several other retailers who have expressed interest in long term leases in the center.
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