Security Company Secures New Leasing Agreement in Ventura County
- Oct 22, 2015
By Alex Girda, Associate Editor
Westlake Spectrum Owners Barker Pacific Group and Rockwood Capital recently completed renewal negotiations with an existing tenant. The venture announced that Securitas Security Services USA recast the term of its agreement for 12 years at the property. The new lease term is valued at around $25 million.
The leasing process was handled by two different CBRE teams. Michael Slater and Tom Dwyer worked with the owners during the negotiation, while Richard Bright and Ryan Bright advised Securitas during the proceedings. The security firm is the property’s largest tenant, occupying 72,610 square feet of space at the Class A campus. The second largest tenant is NSR Data Corp.
Westlake Spectrum is a two-building office complex that offers a total of 107,381 square feet of space. Located in the Conejo Valley in Ventura County, the office asset was acquired at the end of last year. Since then, the owners have completed five leasing agreements for roughly 93 percent of the available space. Following the latest deal, 98 percent of the total rentable square footage at the property is now occupied.
Image courtesy of barkerpacific.com