AGOURA HILLS, CA --
Stating that the office market along the "101 Corridor" is bordering on a
turnaround, officials of Silagi Development and Management Co. announce the opening of
what it says is the largest single speculative office building erected between Calabasas
and Ventura, CA in the past decade.
Moshe Silagi, president of
Thousand Oaks, CA-based Silagi Development and Management Co., reports that the project,
called Agoura Hills Gateway, comprises 93,000 sq. ft. of space on two stories. The
project occupies a high-visibility five-acre site along the Ventura Freeway at 28632
Roadside Dr., Agoura Hills. "I have a strong feeling about the health of the 101
Corridor office market because we are currently witnessing strong activity as major
corporate entities, including Countrywide and Farmers Insurance, purchase substantial
amounts of space. This indicates to me that we may be turning the corner," said
Silagi, noting that "the area was not affected by the Internet crash and is being
fueled by traditional industries."
Accenting his enthusiasm for the market, Silagi declared that once his newest project is
60 percent leased, he plans to launch another office building of 50,000 sq. ft. in the
immediate area. Tony Principe, executive vice president of Westcord Commercial Real Estate
Services in Westlake Village, CA, and Darryl Zilberstein of Westcord have been selected
exclusive marketing agents for Agoura Hills Gateway.
Principe emphasized that
Agoura Hills Gateway occupies a rare niche in the area's office market, although the
building has the flexibility to accommodate tenants requiring from 1000 to 100,000 sq. ft.
"Unlike most new office projects catering to larger tenants, Agoura Hills Gateway is
tailored to small- to moderately-sized tenants seeking immediate occupancy. To
satisfy this need, Silagi Development is building speculative suites of from 1000 to 2000
sq. ft. for immediate occupancy, or build-to-suit needs," Principe said.
Another special feature
aimed at smaller tenants, Principe noted, is that the building provides a conference room
for the use of all tenants. "This is an attractive amenity for smaller
tenants," Principe said.
He declared that while there is substantial office product in the Conejo Valley, there is
solid absorption, particularly in the 1000 to 5000 sq. ft. range. Designed by Neil
Scribner Architects of Thousand Oaks, CA, Agoura Hills Gateway is distinguished by an
exterior of long curved walls covered with natural gray green stone, complemented by
tinted glass and a red tile roof. Additionally, the building features two high-image
lobbies, the rear lobby soaring two stories and overlooking the Santa Monica Mountains.
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. |
