Harbor Freight Tools USA Inc., a national tool retailer that was formerly based elsewhere in Calabasas, has signed a 228,990-square-foot, 15-year lease at Corporate Center Calabasas, according to CBRE Group Inc., the brokerage that cemented the deal.
Corporate Center Calabasas, at 26565-26709 Agoura Road, consists of six renovated office buildings, ranging in size from 38,000 to 93,000 square feet. Harbor Freight will occupy four of the campus’ six buildings, which will serve as the company’s new corporate headquarters.
The company will relocate to the new site from 26541 Agoura Road in Calabasas.
CBRE agents Tom Dwyer, Michael Slater, Caroline Bigelow and Andres Uribe represented the landlord, Majestic Asset Management Inc. in the deal. The tenant was represented by Matthew Miller, Vice Chairman at CRESA.
“Timing is everything in real estate,” Dwyer said in a statement. “Over the years, Harbor Freight Tools had inquired about availability at Corporate Center Calabasas. The opportunity unfolded when existing tenants elected to downsize and an individual building owner within the campus wanted to sell a near-vacant building.”
Majestic Asset Management, a real estate investment and property management company that focuses on re-positioning income properties, has been upgrading the campus, adding the much-coveted modern amenities.
Founded as a family owned national tool retailer in 1977, Harbor Freight Tools has 1,000 stores nationwide and serves more than 40 million customers.