CAMARILLO, CA -- Validating a shift in the office market along
the Highway 101 corridor in Ventura County, CA, toward smaller businesses, the opening of
Thousand Oaks, CA-based Silagi Development Co.'s Camarillo Springs Corporate Center is
announced with 50 percent of its units sold, reports Westcord Commercial Real Estate
Services.
Tony Principe, executive
vice president in the Westlake Village, CA-based Westcord, reports that the 12-unit
development located on a freeway-visible 5.4-acre site fronting Camarillo Springs Golf
Course also has three other units in escrow.
"Activity is strong
for this project and financing is favorable. Companies can own one of these buildings for
less than rent with as little as 10 percent down for buildings featuring amenities of much
larger facilities. Recognizing this, they are taking advantage of the conditions,"
said Principe.
Camarillo Springs Corporate
Center is a five-building office condominium campus earmarked for small businesses
comprising 12 individual units for sale ranging from 4500 to 7000 sq. ft.
Entire 15,000 sq. ft. buildings are also available. Principe and Westcord colleague
Darryl Zilberstein are exclusive agents.
Principe reported that
buyers to date include CPI Computer Products Inc., GLR Properties, Scott Harbin, Impact
Sciences, Farr Ajir, and TBN Insurance Services.
He emphasized that monthly
occupancy costs at Camarillo Springs Corporate Center typically will be under $1.70 per
square foot, including mortgage, taxes, insurance, utilities, and association fees. By
comparison, he said most Conejo Valley office rents start at about $1.85 and go up to
$2.60, escalating annually.
Designed by Neal Scribner,
A.I.A. Architecture of Camarillo, Camarillo Springs Corporate Center is distinguished by
an upscale motif accented by Early California styled architecture with red tile roofs,
textured stucco facades and dual glazed windows. Key interior features include
individual suites with private baths in each unit, and a $20 per square foot tenant
improvement allowance.
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 |
