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Renovation Trend Hits Neighborhood Retail Centers

THOUSAND OAKS, CA—Like many of the major shopping centers and retail, Oakbrook Shopping Center is undergoing a multi-million redevelopment to improve efficiency and fill up its remaining vacancies.

By Kelsi Maree Borland | Updated on May 13, 2015

THOUSAND OAKS, CA—The Oakbrook Shopping Center in Thousand Oaks has begun a multi-million renovation. The 89,000-square-foot center is 34 years old and has been outdated for many years. It is one of few neighborhood retail centers in the market to join the retail renovation and redevelopment trend popular for larger retail strip malls.

“Thousand Oaks Boulevard has gone through quite a bit of renovation,” Lisa Engel, a sales assistant at CBRE, tells GlobeSt.com. “Many of the strip centers that border Thousand Oaks Boulevard have undergone renovation, and it has been fantastic for the community. The neighborhood centers are a little slower, or behind the curve, so we are really excited that Oakbrook is catching up. This is an exciting project that sets a precedent for the remaining neighborhood centers in Thousand Oaks.” Engel is handling leasing efforts for the project, along with CBRE senior associate Scott Siegel and SVP Larry Tanji.  

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