Simi Valley Industrial Property

Listing was updated at: 06/03/2019
Property Overview
Price/Rent PSF $ 9,500,000.00
Asset Type Industrial
Trade Type Sale
SQ. FT. Available 53,799
Date Available 01/23/2019
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The property is located in the Industrial supplied constrained city of Simi Valley. Simi Valley is within the eponymous valley, located in the southeast corner of Ventura County, California. Its location is 40 miles from downtown Los Angeles, making it part of the Greater Los Angeles Area. The city sits next to Thousand Oaks, Moorpark, and Los Angeles. The city's 2014 population has been estimated at 126,871, up from 111,351 in 2000. The city of Simi Valley is surrounded by the Santa Susana Mountain range and the Simi Hills. Its location is west of the San Fernando Valley and northeast of the Conejo Valley.

Knowing the value of providing a strong, vibrant economic community, the Simi Valley City Council recently adopted an Economic Strategic Plan to enhance and further support local businesses. A key component of the Plan included the development of a comprehensive Economic Development Program, which incorporated both plan goals and existing city programs that serve the business community. The plan, along with the city's Economic Development Program, focuses on increasing the city's economic development efforts in various areas that collectively and positively impact the level of service, visibility, business attraction and retention efforts.

It is centrally located minutes off the 118 Freeway, adjacent to Highway 23, 30 minutes from Bob Hope Airport and minutes from public transportation.

Coldwell Banker Commercial NRT exclusively lists the Malabar Industrial Property. This property is currently tenant occupied and will be delivered vacant by close of escrow. First time on the market within this industrial supply constrained area, it was originally constructed in 1978, with an additional building added in 2002. There is also the Ability to add 5,000 of mezzanine space in an otherwise unused portion of the building, offering an exceptional value-add! As an additional feature, a large covered canopy area is located in the back of the building. Heavy power provides an excellent manufacturing opportunity to an owner user or investor. Multiple dock high and drive in doors also make for effortless distribution flow of products and shipping.

The building has been occupied historically by a single tenant, however by design it can be converted into two units. This adds diversity for an end user to occupy more than 51% making an owner user eligible for 10% Down SBA financing. Simi Valley has proven itself to be very business friendly with reduced taxes compared to its neighbor Los Angeles.

Overall demand in the 63 million SF in Ventura has been very strong with a vacancy rate at or around 2.50% at the end of Q1 2018.