Ventura Buys Constructing for Fireplace Company

Ventura County has bought a vacant 99,000-square-foot industrial workplace constructing situated in Thousand Oaks, which it plans to make use of as its fireplace division administrative headquarters. Newmark Group Inc. organized the sale.

The county acquired the low-rise constructing, often called 2400 Conejo Spectrum, from an undisclosed vendor. The acquisition worth was $14.9 million.

“The sale of 2400 Conejo Spectrum to the County of Ventura Fireplace Division exemplifies a rising development of owner-users capitalizing on pricing dislocation out there,” Laura Stumm, a vice chair with Newmark, mentioned.

Stumm represented the vendor together with Newmark’s Kevin Shannon, co-head of U.S. Capital Markets, and fellow vice chairmen Ken White, Rob Hannan and Michael Moll.

“The Ventura County Fireplace Division is a perfect consumer for this asset, which has traditionally served as a headquarters company tackle,” Stumm mentioned.

Inbuilt 2001, 2400 Conejo Spectrum boasts excessive ceilings and has ample parking. The property was initially developed as a two-building workplace campus together with 2380 Conejo Spectrum, which is being retained by the vendor.

The Conejo Valley submarket, which, based on Newmark information, maintains a low industrial emptiness charge of two%, is an innovation node that caters to life science, flex and light-industrial customers.

Presently, the Ventura County Fireplace Division has company headquarters in Camarillo, situated on the Camarillo Airport grounds. The fireplace district’s administration, emergency providers, fiscal providers, fireplace prevention and planning and know-how bureaus all work out of its headquarters.

All businesses might be relocating to the Thousand Oaks area quickly.