Updated on Sept. 13 at noon:
A 141,000-square-foot industrial project broke ground in Simi Valley.
The four-building property coined The Point at the Simi Valley Business Center can accommodate companies looking for 30,000 to 42,000 square feet of Class A industrial space. Construction is scheduled for an April 2017 completion.
“Initial interest has been strong, and we believe the project will be well-received by the brokerage and user community,” said Timur Tecimer, CEO of Overton Moore Properties, the Gardena-based real estate investment firm that owns the property.
The Point is located at 161 W. Cochran St., approximately 10 minutes from the San Fernando Valley. The development sits on one of the last remaining parcels within the 87-acre master-planned business center project.
With Simi Valley’s low industrial vacancy at 2.5 percent, adding close to 150,000 square feet will have a big impact, said Brian Gabler, Simi Valley economic development director.
“The project is a terrific design and will create additional opportunities to bring new employers to Simi Valley or allow for Simi Valley businesses to move up to larger spaces,” he said.
OMP acquired the Simi Valley property from Coca Cola Co. in October 2015. Both parties were represented by Bennett Robinson of CBRE. HPA Architecture designed the building and Millie & Severson is the general contractor.
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