THOUSAND OAKS, Calif., April 19, 2017 /PRNewswire/ -- SARES•REGIS Group leased the first of nine premium industrial buildings it is developing at Conejo Spectrum Business Park in Thousand Oaks, California, to Atara Biotherapeutics, Inc., a biopharmaceutical company developing meaningful therapies for patients with severe and life-threatening diseases that have been underserved by scientific innovation, with an initial focus on allogeneic T-cell therapies for cancer, autoimmune and infectious disease.
Before commencement of construction, Atara Biotherapeutics signed a 15-year lease of an approximately 90,000-square-foot building, the second largest in SRG's 507,878-square-foot project. The company has the option to extend the lease for up to two renewal terms.
"Atara Bio is an ideal first tenant. They are the latest in a new generation of advanced bio-med companies that employ high-skilled professionals from the cities of Thousand Oaks, Westlake Village and Agoura Hills, which make up the Conejo Valley," said Steve Fedde, project partner and senior vice president of SRG Commercial Development.
"We are excited to be working with SRG on this project. Along with housing our southern California staff, we plan to build out a multi-product cellular therapy manufacturing facility with operations expected to commence in 2018," said Jeff Masten, vice president of technical operations at Atara Bio.
Scheduled for completion late this year, SRG's state-of-the-art facilities are being built to LEED specifications on the remaining 29 acres in the landmark business park in the Conejo Valley, which is part of the 170-million-square-foot north Los Angeles market. The current vacancy rate is less than 1 percent, according to Colliers International, which is marketing the project.
The buildings will be notable for their contemporary, high-profile glass-and-concrete design, Fedde said. They will be ideal for warehousing and logistics use as well as for companies engaged in light manufacturing and high-tech activities.The buildings will have secured yards, 28-foot to 30-foot interior clear heights, dock-high loading doors, ESFR sprinkler systems and high-image office space.
Conejo Spectrum is just off the Ventura Freeway (US 101) at Rancho Conejo Boulevard with excellent access to the Golden State Freeway (I-5) and San Diego Freeway (I-405), Moorpark Freeway (SR 23), and Ronald Reagan Freeway (SR 118). The Ventura County municipality of Thousand Oaks is 35 miles northwest of downtown Los Angeles and Conejo Spectrum Business Park is 20 miles east of the deep-water port of Port Hueneme near Oxnard, California.
Thousand Oaks is known as a well-managed master-planned city with safe neighborhoods and a highly regarded school system. Business park employees will enjoy sweeping views of local mountains, hiking in the Conejo Canyons Open Space and abundant retail and food amenities nearby, Fedde said.
Conejo Spectrum is also close to a number of top public and private two- and four-year colleges and universities, including Lutheran University in Thousand Oaks, Pepperdine University in Malibu, University of California at Santa Barbara and California State University campuses in Northridge and Channel Islands.
SRG was represented by brokers John DeGrinis, Patrick DuRoss and Jeff Abraham in Colliers International's Encino, California, office.
SARES•REGIS Group of Irvine, California, is a privately held real estate development, investment and management firm that focuses on commercial properties and multifamily communities in the western U.S. Since its founding in 1993, SRG has developed and acquired more than $7 billion in commercial and residential assets. The company manages a combined portfolio of approximately 21 million square feet of office and industrial space and 17,300 apartment units.
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SOURCE SARES REGIS Group