MOORPARK, CA -- In Citing the absence of a mixed use
retail/office center of this scope serving the growing residential community surrounding
Moorpark College and the college itself, plans have been announced for a $25 million
project of approximately 70,000 gross square feet that is already 21 percent pre-leased,
according to Westcord Commercial Real Estate Services.
Don Swanson and Bruce
Hamous of Westlake Village, CA-based Westcord, exclusive marketing agents for the new
center, report that M & M Development of Camarillo, CA plans to break ground for a
project that will include retail, office and medical office space during late spring,
2004.
The development, to be
known as Campus Plaza, is strategically located on a seven-acre site at the southwest
corner of Collins St. and Campus Dr., across from the college. The site provides
easy access from the Collins St. exit of the 118 Freeway. Occupancy is
expected in November, 2004.
Swanson and Hamous said the
new center will feature four individual buildings totaling approximately 70,000 sq. ft.,
plus an 8000 sq. ft. pad envisioned for a bank or retail operation. Buildings
include a 2700 sq. ft. single-story structure, and single-story 8000 sq. ft. building, a
29,000 sq. ft. two-story mixed use building, and a 26,500 sq. ft. two-story structure.
Hamous reports that leases
have already been signed with Jack In The Box for a 2700 sq. ft. drive-through restaurant,
with Urgent Care for 3000 sq. ft. of office space, Juice-It-Up for 1500, a physical
therapist for 2000, and with Aroma Coffee and Gold Coast Tanning for 1500 sq. ft.
each. He said negotiations are also underway with a pharmacy, dentist, optometrist,
and therapist for another 8000 sq. ft.
"There is no
retail/mixed use center of this size currently serving this key submarket within
Moorpark. The combination of over 17,000 students at Moorpark College and the growth
in the housing sector surrounding the college has sparked the demand for a project like
this," said Hamous.
Hamous and Swanson added
that there also exists a tremendous amount of interest for medical office space in the
area. "We anticipate strong interest in our project from area residents with
small businesses, notably from medical space tenants who may, in fact, end up leasing a
large portion of the office space," Swanson said. He added that a complementary
retail project, including a future car wash and service station, is planned adjacent to
the new project.
Westcord, which traces its
origins in the region to 1969, is a full-service regional company that ranks among the Los
Angeles area's top 25 commercial real estate firms, with offices in Westlake Village, CA,
and Van Nuys, CA |
