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Thursday, Dec 1, 2022
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136K SF Lease Signed at Simi Valley Campus

A 135,579-square-foot industrial lease has been signed at Tapo Canyon Commerce Center, an under-construction, five-building, 342,557-square-foot industrial campus in Simi Valley. 

Newmark Group Inc.’s John DeGrinis, Patrick DuRoss and Jeff Abraham serve as the leasing advisors for the project and represented Stream Realty Partners and QuadReal Property Group in the transaction. Sam Glendon of CBRE Group Inc. represented the undisclosed tenant in the lease transaction.

“We are thrilled to secure the first tenant at this underway best-in-class industrial complex,” DuRoss said in a statement. “With a sub-1% industrial vacancy rate in the San Fernando Valley, the completion of this project will deliver much-needed industrial inventory and provide companies with excellent accessibility to the greater San Fernando Valley”

Located at 1800 Tapo Canyon Road, the five-building Tapo Canyon Commerce Center has a construction completion goal of late October. 

The industrial buildings range from 25,786 to 135,579 square feet in size. The remaining leasing options span from 25,786 square feet to 76,445 square feet in four buildings of the campus. 

“Industrial occupiers throughout the L.A. North region will continue to face the growing concern of whether to operate their businesses out of inadequately sized or functionally challenged facilities given the average age of the region’s industrial base and the continued evolution of the industrial product type. Tapo Canyon Commerce Center provides the market with the modern and efficient solution,” said Scott Sowanick, managing director for Stream’s industrial development services group.

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