CAMARILLO, CA -- With 50 percent of its space already in escrow,
construction has begun on Camarillo Springs Corporate Center (Camarillo, CA), a
five-building office condominium campus earmarked for small businesses, announces Westcord
Commercial Real Estate Services.Responding to what Moshe Silagi, principal of project developer Silagi
Development Co. of Thousand Oaks calls a shift underway in the office market along the
Ventura Freeway (101) Corridor from large-scale to small office tenants, Camarillo Springs
Corporate Center will comprise 65,000 sq. ft. of space. Buildings will be located on
a freeway visible 5.4-acre site fronting Camarillo Springs Golf Course on Camarillo
Springs Rd.
"With interest rates
low and SBA loans available for as little as 10 percent down, we're witnessing strong
demand from small businesses to own facilities for less than it costs to rent.
Considerable interest in this project is coming from firms in Conejo Valley," said
Tony Principe, executive vice president of Westlake Village-based Westcord.
Principe and Westcord colleague Darryl Zilberstein are exclusive marketing agents for the
project.
Principe added 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. "Because of the shrinking supply of land in the
Camarillo area, these types of developments will be limited, so long-term appreciation is
a likelihood," Zilberstein added..
The Westcord brokers said
12 individual units are for sale at Camarillo Springs Corporate Center ranging from 4500
to 7000 sq. ft. Entire 15,000 sq. ft. buildings are also available. Occupancy
is scheduled for October.
Designed by Neal Scribner,
A.I.A. Architecture of Camarillo, Camarillo Springs Corporate Center will be 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 is one of the Los
Angeles area's top 25 commercial real estate companies with offices in Westlake Village,
CA, and Van Nuys, CA. |
