CAMARILLO,
CA -- A recently completed rehabilitation of a strategically located Early
California two-story office building within Camarillo's prime Paseo Camarillo business
district has sparked a dramatic turnaround for the property which is now approximately 98
percent leased, according to Westcord Commercial Real Estate Services.
Tony Principe, executive
vice president of Westlake Village, CA-based Westcord, reports that 333 N. Lantana LLC, a
Malibu, CA investment partnership, has completed some $500,000 worth of rehabilitation
work on the two-story 37,000 sq. ft. office building, including upgrading of all common
areas and generous allowances for tenant improvements. Principe and Darryl Zilberstein are
exclusive marketing agents for the property, located on two acres at 333 N. Lantana St.,
Camarillo.
The office building is distinguished by a colorful arched bridge spanning a two-lane road
connecting to a variety of retail services, and is immediately across the Ventura (101)
Freeway from the popular Camarillo Outlet Mall. The building also features open
courtyards, an abundance of windows, a stucco facade and red tile roof. Parking is
provided in the ratio of four spaces per 1000 sq. ft. of building space. "We credit
the success of this project to an excellent team approach. Both the property management
firm, Parkstone Companies of Westlake Village, and the ownership were actively involved
with every aspect of this process. We take pride in turning around a once-troubled
asset," said Principe.
He noted that the current
owners acquired the property through Westcord late in the year 2000 when the building was
approximately 40 percent occupied, with some of the space having never been occupied since
construction.
Key tenants of the Paseo
Camarillo office building include State Farm Insurance, La Mer Medical Group, Vanowen
Associates, Auburn Property Management, and the American Heart Association.
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. |
