Industrial Constructing Begins Leasing

A Class A, 75,000-square-foot, multi-building industrial venture often called 101 Logistics Middle situated in Oxnard is totally entitled and prepared for leasing.

“We’re past enthusiastic about 101 Logistics Middle turning into a actuality,” mentioned Scott Sowanick, managing director and accomplice at Stream Realty Companions, the developer of the property which bought the 41-acre web site in June of final yr.

“Our staff has labored tirelessly on the chance, and, regardless of the financial fluctuations, the elemental provide and demand has by no means been stronger than in the present day,” Sowanick added.

Stream appointed Newmark Group Inc. to lease the totally entitled property, at which buildings will vary from roughly 110,000 sq. toes to 308,000 sq. toes and supply tenants with quite a lot of leasing phrases.

The buildings will provide tenants 32- to 40-foot warehouse clear heights, substantial dock-high loading capabilities, totally secured truck courts, energy capability, sprinklers, warehouse lighting, EV charging stations and extra.

“101 Logistics Middle is the primary growth of its scale in West Ventura County for greater than 20 years,” Patrick DuRoss, an govt managing director at Newmark, mentioned. “The venture gives a much-needed alternative for corporations to develop throughout the area, providing actual property and facilities essential to accommodate their wants.”

DuRoss will deal with the leasing for the venture, together with Newmark’s vice chairman John DeGrinis, govt managing director Jeff Abraham and affiliate director Javier Galvan.

“The West Ventura County industrial submarket boasts 48 million sq. toes of stock with little emptiness and no availability of Class An area above 100,000 sq. toes,” DeGrinis mentioned. “This venture caters to unprecedented demand and stands as a testomony to assembly the wants of a dynamic market and propelling financial development within the surrounding space.”

Within the third quarter of this yr, the emptiness price for industrial properties in West Ventura County was 0.8%, reflecting one of many tightest charges amongst all valley submarkets, in line with knowledge from Colliers.

The newly constructed campus will present tenants with direct entry to the 101 Freeway for handy entry to Ventura County, Santa Barbara County and Los Angeles County, in addition to the Port of Hueneme – the one deep-water coastal port between Los Angeles and San Francisco.

The venture marks Stream’s eighth industrial growth in Southern California.