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New Leases Bump Tech Center to 97% Occupancy

CALABASAS, CA-Occupancy at Arden property in the Conejo Valley/101 Technology Corridor is up from 89%, but tech slump makes leasing tougher.

By Bob Howard | Updated on June 28, 2002

CALABASAS, CA-A $2.4 million lease signed by JDI Technologies and a $1.4 million lease signed by Optical Physics Co. are among $5 million in recent deals that have boosted occupancy to 97% at the seven buildings comprising Arden Realty’s 273,000 sf of office and lab space at Calabasas Tech Center.

Acknowledging the “widespread slowdown of the overall Southern California market,” Arden’s Eric Hasserjian, a vice president for leasing, tells GlobeSt.com that the five-year, 18,067-sf JDI lease and five-year, 12,343-sf Optical Physics transaction are two of a series of deals that have whittled away at vacancy in the tech center, which had been up to 11%.

JDI, which sells and services computer printers and related products, moved to Calabasas from Warner Center Business Park in Woodland Hills, while Optical Physics, a manufacturer of optical sensors for the aerospace industry, moved from elsewhere in Calabasas.The moves illustrate what Hasserjian tells GlobeSt.com is a change in recent months: a willingness among tenants to move.

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