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University to Transform Bank into Medical Center

CBRE on Tuesday announced a local university has leased a former Chase Bank building in Thousand Oaks. The university is planning on transforming the 16,200-square-foot building at 248 Hampshire Road into a health care facility, CBRE said in a statement. The medical facility is due to complete renovations in the first quarter of next year and will offer primary care services and procedures. CBRE did not want to name the university. However, sources said it was UCLA. “The market has real barriers to entry for larger medical occupiers,” said John La Spada with CBRE. “There aren’t many opportunities to accommodate tenants that need larger blocks of medical space. This was a great fit for a larger and more active medical group looking to expand in the area.” La Spada and Bill Clark, also with CBRE, handled the lease transaction for real estate investment firm Agora Realty and Management Inc., the landlord. Financial details for the transaction were not disclosed.

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