The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 14, 2024
 Search RENTV
   Go!
 The REview
 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?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
County of Ventura Closes $14.9 Mil Buy of Thousand Oaks Building

12/13/23

The County of Ventura acquired a vacant 98.8k sf commercial building in Thousand Oaks in a recent $14.9 mil ($151/sf) transaction. The County plans to use the building, located at 2400 Conejo Spectrum, for its Fire Department administrative headquarters.

The property is centrally located within the Conejo Spectrum submarket, an established innovation node that caters to life science, flex and light-industrial users. Anchored by the 2.9 msf Amgen Global Headquarters, this micro-market is home to many of the region’s most successful tenants including Atara Biotherapeutics, Shire Pharmaceuticals, Forage Genetics and Amazon, among others.

Built in 2001, the property features over 16’ ceiling heights and a 100-pound live load capacity on the second story. Sitting on a 5.35-acre lot, the property also offers a 4:1,000 SF parking ratio with easy truck ingress-egress. 2400 Conejo Spectrum was initially developed as part of a two-building office campus along with 2380 Conejo Spectrum, which will be retained by the seller.

Newmark Co-Head, U.S. Capital Markets Kevin Shannon, Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the undisclosed seller.

“The sale of 2400 Conejo Spectrum to the County of Ventura, Fire Department exemplifies a growing trend of owner-users capitalizing on pricing dislocation in the market,” said Stumm. “The Ventura County Fire Department is an ideal user for this asset, which has historically served as a headquarters corporate address.”

The Conejo Valley submarket maintains an industrial vacancy rate of 2.0% with a continued increase in rental rates, according to Newmark Research. The submarket has benefitted from strong life science demand from incubators Westlake Bio Partners and Amgen, including four recent acquisitions by Alexandria Real Estate within blocks of the asset.






Return to the Archive page
 


 


 


 
 





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 © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media