THOUSAND OAKS, CA-The Sares-Regis Group of Irvine has opened two new buildings fully leased at its Arbors office project. The two new buildings, completed by the Thousand Oaks office of Whittier-based Oltmans Construction, total 142,250 sf and expand the office campus to 273,000 sf.
Located at 2535 and 2560 W. Hillcrest Dr., the 100% leased new buildings reflect the demand for space in the Conejo Valley where the office space vacancies hover in the single-digit range. Among key tenants at the Arbors are Amgen, Aetna, Progressive Insurance and Skyworks Solutions.
Jason Williams, project manager in the Thousand Oaks office of Oltmans,reports that the newest buildings are class A, two-story concrete tilt-up structures designed to fit the suburban office motif of the Arbors project, which features a series of trellised walkways that connect the buildings. The new buildings were designed by the architectural firm of House and Robertson in Los Angeles.
Sares-Regis acquired the Arbors for $34 million in early 2006 when the site contained 128,464 sf of existing office space plus two entitled development parcels. At that time, the Arbors, which Sares-Regis bought from Hileman Co. affiliate Arbor-Thousand Oaks Investors LLC, consisted of two existing two-story buildings at 649 Lawrence Dr. and 2545 W. Hillcrest Dr., along with the two entitled sites at 2525 and 2565 W. Hillcrest Dr.
The 16-acre office campus is situated along the Ventura Freeway in the 101 Technology Corridor. The Arbors project is part of the 9.6-million-sf Conejo Valley office submarket, which includes Thousand Oaks, Westlake Village and Agoura Hills.
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