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1st Quarter 2001 Market Statistics
New Commercial and Industrial Development
Review of 2000

Final development statistics for calendar 2000 show that the value of new commercial and industrial development in Ventura County fell 30.4 percent from the 1999 level of activity. There was significant commercial development in Thousand Oaks which recorded an increase of 48 percent. But new industrial and commercial building declined in Oxnard (-23 percent), Camarillo (-30 percent), and Simi Valley (-65 percent) in 2000.

Nevertheless, the building environment has been prolific in Ventura County since 1997. An estimated 6 million square feet of space has been built, started, or renovated.

Total investment in new and renovated structures declined 23 percent in 2000. There is significant renovation activity occurring in the Conejo Spectrum in Newbury Park, and underway at the Esplanade in Oxnard.

Approved and Pending

Currently, there are few industrial projects under construction in Ventura County. The Semtech project is well underway in Camarillo, and renovation work continues in the East County. More office projects are underway in Westlake, Thousand Oaks, and Oxnard. The Westlake North Business Park by IDS is the largest project underway at 193,514 square feet. Westlake Plaza III is also under construction. Two office buildings (The Arbors) are under construction in Newbury Park by The Hileman Company. Click on graph to see a larger image.

New Development Summary
Ventura County 2001
Industrial Square Feet
Location

Pending

Approved

Total
Ventura 0 615,776 615,776
Oxnard 550,410 850,691 1,401,101
Camarillo 0 992,792 992,792
Fillmore 0 52,000 52,000
Santa Paula 0 0 0
Moorpark 1,066,000 210,767 1,276,767
Thousand Oaks 0 925,961 925,961
Simi Valley 0 1,201,746 1,201,746
Total West County 550,410 2,511,259 3,061,669
Total East County 1,066,000 2,338,474 3,404,474
Total County 1,616,410 4,849,733 6,466,143
Commercial Square Feet
Location

Pending

Approved

Total
Ventura 757,280 357,585 1,114,865
Oxnard 3,521,579 463,811 3,985,390
Camarillo 0 513,763 513,763
Fillmore 0 186,868 186,868
Santa Paula 0 0 0
Moorpark 0 108,287 108,287
Thousand Oaks 0 1,791,150 1,791,150
Simi Valley 248,841 297,762 546,603
Total West County 4,278,859 1,522,027 5,800,886
Total East County 248,841 2,197,199 2,446,040
Total County 4,257,700 3,719,226 8,246,926
Total Industrial & Commercial Square Feet

Pending

Approved

Total
Total West County 4,829,269 4,033,286 8,862,555
Total East County 1,314,841 4,535,673 5,850,514
Total County 6,144,110 8,568,959 14,713,069
 

Principal Commercial Projects in Ventura County by City
January 2001
Project Name Square Ft.

Type

 Project Status
Ventura
Pacific Theatres 276,517 Shopping Center In planning process, likely dead
Hilton Garden Inn 200,000 New 250-275 Rm. Hotel w/ Restaurant In planning process
The Mound 272,585 Shopping Center Under Construction
Oxnard
Marriot Courtyard 84,000 140 Room Hotel Proposed
Marriot Fairfield 60,000 100 Room Hotel Proposed
Riverpark 2,470,000 Commercial, Office Space Proposed
Esplanade Plaza 385,000 Shopping Center Under Construction
Financial Tower II 294,338 14 Story Office/Parking Garage Proposed
Gateway South 174,241 Commercial, 4 Acre, 3 lot subdivision Proposed
Airport Marina Center 135,400 Mix use: Mini storage, Retail Boat storage Under Construction
Hilton 90,137 Hotel with Restaurant Plan Check
Rose Crossing 54,000 Commercial Under Construction
Camarillo
Prime Outlets/Westar Develop. 130,000 Retail Stores, Food Court & Entertainment Approved, downsized
Home Depot Store 145,778 Retail Approved
Camarillo Associates Building 112,294 Office Building Approved
Staybridge Hotel 75,219 Hotel Approved
Fillmore
Balden Town Plaza 186,862 Commercial Shopping Center Approved, Phase 1 completed
Thousand Oaks
Extended Stay/Residence Inn unknown 2 hotels & restaurants & comm.  shopping Proposed
Westlake Village Office 550,000 Office Bldg. & 160 Bed Senior Housing Approved
Expo Design Center 125,000 Expo Design Center & Retail Stores Approved
Albertsons and Longs 123,600 Shopping Center Under Construction
Westlake Plaza Center III 82,000 Shopping Center Under Construction
Rolling Oaks Office Center 41,113 First of 2 Office Buildings Under Construction
Simi Valley
Rancho Tapo Community Park 174,241 Outdoor Roller Hockey Area, Tennis & Volleyball Courts, Pond & Amphitheater Incomplete
Civic Center Plaza 170,762 Retail Center including Movie theater, Retail Bldgs, & Restaurants Approved
Centre Court Shopping Center 127,000 Construction of Retail & recreation commercial Bldgs. Approved, under construction

Principal Industrial Projects in Ventura County by City
January 2001
Project Name

Sq. Ft.

Type

 Project Status
Ventura
Ventura Harbor Storage 142,500 Personal Storage Facility & Caretaker's Unit 97,000 sq.ft. completed
Market Street Plaza 133,00 10 Industrial Buildings Building permits issued
KDDC Inc. 111,456 8-single story industrial buildings Building permits issued
Art Dreams 88,967 New industrial building 63,000 sq.ft. completed
Oxnard
Terminal Freezers 129,523 Industrial Building Proposed; in process
Leeds Engineering 87,028 Tilt-up industrial building Proposed; in process
Channel Island Business Center 170,000 9 Industrial Buildings Under Construction
CIBC 129,482 Industrial Buildings Plan Check
Pacific Beverage Co. 125,687 Beverage Distributor, Wholesale Approved
CIBC 105,202 Industrial Building Plan Check
Moen Development 67,500 Industrial Building Approved
Testing Center 67,454 Industrial Building Under Construction
Camarillo
Camarillo Ranch Business Park 152,445 Industrial Building Under Construction
Semtech Corporate Campus 133,434 Industrial Building Approved
Semtech Corporate Campus 85,925 Industrial Building Under Construction
Mission Oaks Business Park 110,000 Industrial Building Approved
Moorpark
Moorpark West Corp. Center 572,000 6 Industrial Buildings Proposed; in process
Carlsberg Ranch Business 494,000 8 Industrial Buildings Proposed; in process
Endeavour Square 72,000 Business Park Approved; not yet begun
Felsenthal Building 71,780 Industrial Building Approved; not yet begun
Moorpark Business Center 59,960 2 Buildings (28,240 & 31,720 sq.ft.) Approved; not yet begun
Thousand Oaks
Rancho Conejo unknown 23 Industrial Lot Subdivision, 48 acres 4 sale Approved
USA Business Center 220,000 Industrial Building Under Construction
Conejo Spectrum Land 200,000 Two 100,000 sq.ft. Office Buildings Approved
Amgen 133,300 Laboratory Building Under Construction
Conejo Spectrum 115,000 Industrial Building Under Construction
The Arbors (Hileman Company) 68,661 2 R & D Buildings Under Construction
Simi Valley
Countrywide Building 680,000 New Office Bldg., convert Warehouse Approved
Cypress Plate @ Simi Valley Center 165,896 3 Industrial Buildings Approved
Cypress Plate @ Simi Valley Center 160,270 Industrial Building Approved
West America Construction 152,380 9 Buildings Approved
 

Commercial & Industrial Development
Ventura County History: 1994 - 2000

1994

 1995 1996 1997 1998 1999 2000
Investment in New
Non-Residential Structures

~ thousand of dollars ~
    current year dollars 81,470 117,876 135,909 138,809 202,086 264,442 189,113
    constant 2000 dollars 90,089 129,054 147,467 148,408 211,867 271,128 189,113
Investment in Renovations
Alternations and Remodels
    current year dollars 75,591 69,047 51,488 61,694 89,171 102,539 95,421
    constant 2000 dollars 83,588 75,594 55,867 65,960 93,487 105,131 95,421

Total Investment in Non-Residential Structures
    current year dollars 157,061 186,923 187,397 200,503 291,257 366,981 284,535
    constant 2000 dollars 173,678 204,648 203,334 214,368 305,354 376,259 284,535

Forecast Continued Below

Commercial & Industrial Development
Ventura County Forecast: 2001 - 2000
2001 2002

2003

 2004 2005 2006 2007 2008 2009 2010

~ thousand of dollars ~
190,295 176,922 192,697 178,961 187,217 201,811 204,644 201,309 185,300 168,368
183,771 166,003 176,912 160,608 165,042 173,737 171,842 164,757 148,249 131,472
107,911 114,625 120,931 126,812 130,753 136,557 142,671 149,278 155,965 163,787
104,211 107,551 111,026 113,807 115,266 117,561 119,802 122,173 124,780 127,894
298,205 291,547 313,628 305,773 317,970 338,368 347,315 350,586 341,226 332,155
287,982 273,554 287,938 274,415 280,038 291,298 291,644 286,931 273,029 259,366

New Commercial & Industrial Building Permit Value By City
Ventura County
1995 - 2000
1995 1996 1997 1998 1999 2000
~ thousand of dollars ~
Camarillo 11,480 21,084 15,137 10,512 43,580 30,408
Fillmore 2,867 228 192 78 79 1,210
Moorpark 4,116 5,562 8,132 7,892 2,464 1,636
Ojai 3,437 271 7,216 335 574 647
Oxnard 16,320 21,843 24,490 61,550 46,560 35,744
Port Hueneme 2,255 0 0 0 262 0
Ventura City 10,270 10,397 11,029 23,923 41,086 20,662
Santa Paula 274 64 84 4,576 448 1,242
Simi Valley 9,178 5,423 12,636 45,221 46,266 16,302
Thousand Oaks 42,589 58,980 40,610 31,004 37,715 55,977
Unincorporated Area 10,807 10,047 19,281 15,000 45,411 20,162
Total Ventura County 117,876 133,900 138,808 202,090 264,225 183,993

THE FORECAST

The environment for new commercial building is poised to slow in 2001 and thereafter. However, there are a number of projects in process that will continue to augment the supply of new office and industrial space over the next 3 years. After that, commercial development will slow sharply.

For the next 3 years, development remains active in Ventura County. The Ventura market will remain and demographics of the U.S. and California, and the proximity of the County to the Greater Los Angeles Region. Click on graph to see a larger image.

New commercial and development investment slows from the unsustainable pace set at the end of the 1990s. The environment remains active however, as development along the 101 corridor in both the West and East Counties pushes forward in 2001 and 2002.

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