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Developer Plans Conejo Industrial

THOUSAND OAKS, CA-Panattoni Development Co. will develop a 78,000-sf build-to-suit for a national distributor along with a 36,300-sf speculative building at the Conejo Spectrum business park. The distributor's $7-million lease agreement comes with an option to buy.

By Bob Howard | Updated on September 25, 2002

THOUSAND OAKS, CA-Panattoni Development Co. of Sacramento, Calif. will break ground in December on a 78,000-sf build-to-suit industrial building and a 36,300-sf speculative project in the Conejo Spectrum business campus.

The company has signed Ventura Distribution to a 10-year, $7 million lease to occupy the entire 78,000-sf building, according to Jeff Phelan, a managing partner with Panattoni.

Ventura is a national distributor of independent DVD and VHS productions, and will house its headquarters and warehouse operations at the new building, according to John DeGrinis and Shane Foley of Colliers Seeley International, who represented both parties in the lease and have the marketing assignment for the speculative building.

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