CBRE announced two leases at Conejo Corporate Campus in Thousand Oaks, CA, totaling nearly 100,000 square feet.
Michael Slater, Andres Uribe and Caroline Bigelow of CBRE represented the landlord, Harbor Associates, in the transactions. SAGE Publishing, an independent publishing company founded in 1965 in New York and now based in Thousand Oaks, was represented by CBRE’s Tom Dwyer. Atara was represented by Newmark Knight Frank.
Atara Biotherapeutics, a local biotech company, will occupy the entire second floor while SAGE will occupy the ground floor of the recently renovated, nearly 100,000-square foot office building, located at 2380 Conejo Spectrum Street. Since the prior tenant Amgen moved out in 2009, Harbor Associates, which purchased the property last February, converted it into a multitenant building. “Given the newly constructed industrial park across the street, this is a strategic move for Atara,” said Slater. “It is also a great location for SAGE’s expansion as their existing headquarters are next door.”
He added, “With very little vacancy and limited availability in the Conejo Valley market, this reimagined office campus presented a unique opportunity for these two companies.” SAGE’s expansion at the property is part of the company’s long-term strategy coupled with growth in the publishing industry. For Atara, the new location will serve as additional office space adjacent to their existing T-Cell operations and manufacturing facility.
In addition to the new leases at 2380 Conejo Spectrum Street, CBRE also represented Harbor Associates at their nearby project, Think Here at 1525 and 1535 Rancho Conejo in lease renewals with two local biotech/life-science companies, totaling approximately 70,000 square
“We are proud to be working with all these industry leading companies from Thousand Oaks in buildings that we comprehensively renovated to include outdoor amenities, new HVAC, landscaping, and upgraded lobbies,” said Joon Choi, Principal for Harbor Associates.
The Greater Los Angeles office market’s positive net absorption marked eight straight years of gains, according to CBRE’s recent report. The 2.4 million sq. ft. of net absorption nearly matched average gains for the past five years and indicates further growth in the region’s office sector.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management;
investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.