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VENTURA COUNTY NEWS
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Stream Realty Partners and QuadReal Property Group Start Work on 344k sf Industrial Complex in Simi Valley

5/26/21

Stream Realty Partners and joint-venture partner QuadReal Property Group are set to commence construction on Tapo Canyon Commerce Center, a fully entitled, 344k sf five-building industrial complex in Simi Valley. The project is situated on 18 acres at 1800 Tapo Canyon Dr.

Canyon Commerce Center presents high image street frontage along Tapo Canyon Rd and Los Angeles Ave, with proximity to the San Fernando Valley and overall North Los Angeles region. Features include, but are not limited to, 28’ to 36’ clear height, high image, window lined office space, above regional standard dock-high loading, five different access points to campus and immediate 118-Freeway access.

The brand new, modern industrial buildings range from 25.8k sf to 135.6k sf and provide tenants leasing options from 19.2k sf to the entire campus. The project is anticipated to deliver to the market in fall 2022.

The city of Simi Valley is extremely business friendly, is home to a productive labor force and benefits from Ventura County’s overall cost and quality of life. Neighboring companies include Amazon, Bank of America, Ricoh Printing Systems, UPS Freight, Milgard Manufacturing, Entertainment Earth and Aerovironment to name a few.

Newmark’s Patrick DuRoss, SIOR, John DeGrinis, SIOR, and Jeff Abraham, SIOR, are handling the leasing of the project. According to DuRoss, the site was previously utilized as a one-story office building that no longer had strong demand or utility in today’s market.

With a total inventory of 1.049 bsf of industrial space, Los Angeles’ County vacancy rate has remained below 3% for 36 consecutive quarters, marking the lowest industrial vacancy rate in the nation, according to Newmark Research. Tenants have already taken 97.2% of the 8.9 msf of the new supply delivered over the last 24 months as developers continue to scour the market for infill land sites and older facilities for renovation and repositioning.






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