NEWBURY PARK, CA -
Terming it "a magnificent office park environment never before provided for small businesses in Conejo Valley", embellished by a striking
14-foot steel crafted sculpture of a Warbler, Westcord Commercial Real Estate Services reports that work is underway on a new 14-acre office campus in Newbury Park, CA.
A project of Telair Wendy Road LLC, the new business park is rising on a 14-acre high visibility site at Wendy Dr. and Old Conejo Rd., just south of Interstate 101. The new development will comprise 31 "free standing" Class A buildings ranging from 2700 to 15,000 sq. ft. Buildings are priced from $1,480,000 to $6,800,000, according to Tony Principe, president of Westcord, exclusive marketing agent for the development.
Principe said that delivery of the first seven buildings is scheduled for September, with at least three additional buildings expected to be complete monthly through March 2008. Approximately 50 percent of the buildings are already sold.
"The developer wanted to build small buildings in an unrivaled environment to fill a giant void in the market while providing a rare opportunity for small businesses to own their buildings. Buildings of this size and quality for sale have not been built in Conejo Valley for the last 20 years," said Principe.
He added that Westcord, which has successfully marketed condominium and free-standing owner-user office buildings throughout Ventura County for years, will initiate an aggressive marketing stance with this project, including comparing the benefits of buying versus leasing, while utilizing enhanced internet and direct marketing.
Principe emphasized that all options are available to users at the new project, including purchase, lease, or lease with option to buy. "With this flexibility, there's no reason why small business owners can't own their own buildings," Principe said.
General office buildings in the new park will feature 4/1000 free parking and a $25/sf improvement allowance. Medical buildings are priced at $20/sf more to cover added parking and the $35/sf improvement allowance. He said buildings are for lease at a starting rate of $2.50/sf nnn on a 10-year lease term.
Principe said that the signature element of the new office park's ambience is a topiary bird created by Coburn Topiary & Garden Art. Looming over 14 feet tall, the steel crafted yellow-rumped Warbler is featured with grayish-green leaves of the olive tree and accented with glass eyes larger than the palm of your hand. "This significant piece of artwork is a first in the area, and Thousand Oaks city officials have hailed it,"
Principe said.
Designed by Tom Oswald Architects of Thousand Oaks, the new office park will feature Class A office buildings, distinguished by extensive full height glass accented with stone and stucco trim. Spanish contemporary architecture will be expressed by red and gray clay tile roofs with focal point entries capped by metal frame canopies.
"The planning concept is marked by a campus design layout with courtyards. Clusters of buildings form pod areas that break down the scale of the development and allow a more intimate relationship between buildings and their users," Oswald said. He added that over 50 mature trees will enhance the office campus.
The new office park is conveniently located in the fast-growing western Conejo Valley near the Target Store and Home Depot Center, and is across the street from the Ace Hardware Center now undergoing a major renovation.
Westcord is ranked among the top commercial real estate companies in Los Angeles and Ventura Counties. The firm has offices in Westlake Village, CA, and Van Nuys, CA. |
