Los Angeles – Aug. 15, 2016 – CBRE Group, Inc. announced a new 32,000 square foot lease by local medical manufacturing company SaniSure® at a prime space in Camarillo, California. SaniSure® is relocating their Oxnard operations into the building.
CBRE’s Jim Meaney, Paul Farry and Doug Shaw represented the property owners, 1230 Calle Suerte, LLC. Grant Harris and John Ochoa of Lee Associates represented SaniSure®.
The building at 1230 Calle Suerte also features a two-story, 8,000 square-foot office area with multiple balconies upstairs.
Ventura County’s second-quarter industrial vacancies remained constant from the prior three months, while lease rates climbed slightly, according to CBRE research. In addition to demand from warehouse and manufacturing companies, newer entrants in the market include biotech companies.
“This building is a perfect fit for a company like SaniSure®,” said Meaney. “Ventura County is a nice place to live but very difficult to build new product. The previous tenant rehabbed the property nicely and their tenancy has helped elevate it to one of the premier industrial buildings in Camarillo.”
The Greater Los Angeles area industrial market has seen record low availability levels while demand is ever-increasing, according to CBRE’s second-quarter research report. Vacancies in the region dropped to a new all-time low at 1.1 percent, down 50 basis points year over year. Demand coupled with new product is expected to push rents up 5.4 percent by year-end 2016.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
