Westlake Park Place leases 100,000 s.f. in nine months
A new 238,945-square-foot Class A office campus in Westlake Park Place has leased space to both national and regional banking, insurance. financial and technology services firms.
Denver-based real estate private equity firm Amstar Group and Newport Beach-based Steadfast Companies said the groups’ Westlake Park Place development has signed approximately 100,000 square feet of leases during the first nine months of 2008, bringing the occupancy rate up to 45 percent, according to a news release.
Leases are also out on an additional 13,000 square feet of space.
“It’s interesting; essentially, in spite of the slowing economy, we’re still attracting recognizable tenants,” said Amstar’s Executive Director Kimberly Sperry. “This bodes well for the long-term. We’re extremely pleased with the caliber of clients we’ve attracted.”
The majority of leasing momentum has come from prestigious banking, insurance, technology and financial services firms looking to have some sort of a presence in the Conejo Valley, Sperry said.
“It’s a combination of tenants currently in the area and consolidations of other offices,” Sperry said. “This just demonstrates that Westlake Park Place is beginning to make a name for itself.”