Camarillo will jump on the luxury-storage trend with Cloud 9, a 120,000-square-foot project that will bring luxury hangers and office space for private jet owners, companies and high-net-worth individuals to the Camarillo Airport.
The four 25,000-square-foot hangers will be constructed in the northeast quadrant of the airport and, according to airport officials, accommodate at least eight planes. Developer Ron Rasak, president and owner of Calabasas-based commercial real estate company RKR, declined to give specific numbers, but he said the project would cost about $30 million.
The project sits on a 6-acre site and would be the largest private development at the county-run Camarillo Airport, according to a news release. It was approved by the Ventura County Board of Supervisors last month. Clients will enter Cloud 9 through a private entrance off Las Posas Road.
Rasak said Cloud 9 will attract large companies, sports teams and wealthy individuals who live in Ventura County, Malibu, Montecito, Santa Barbara and other areas.
Cloud 9 features include covered vehicle parking with solar units on top, roll-up doors for each hanger, landscaped common areas and interior hangar designs including white-out walls and white epoxy floors.
Fifty-year leases are available, and Rasak has already received offers for the spaces, which he said “will go quickly.” Construction is planned for the end of 2019, but could begin as soon as the summer of 2019, and occupancy is slated for fall of 2020.
“I came out of retirement for this project,” Rasak said with a laugh, noting that his company only takes on projects that make economic sense, are fun to work on and add to the local community.
LIMONEIRA PARTNERS WITH HOMEBUILDERS
Limoneira, an agribusiness based in Santa Paula, will partner with two homebuilders, Lennar and KB Home, as its primary builders for the first 180 homes of its 632 residential units in the Harvest at Limoneira project.
Sales for the first phase of the housing project, which rests on 530 acres in Santa Paula and is estimated at $500 million as the first new housing development in Ventura County in years, began this month with lot closings anticipated in January 2019, according to a news release.
Lennar is based in Miami and KB Home in Los Angeles. The Harvest at Limoneira project will include 1,500 residential units upon completion in a joint venture between Limoneira and the Limoneira Lewis Company Builders.
NATIONAL GUARD ARMORY PROPERTY BOUGHT
The Santa Barbara Unified School District Board of Education approved an $11.6 million purchase of the National Guard Armory, a major component of a bond measure.
The board’s action, according to an Oct. 23 news release, comes after 25 years of community interest in acquiring the National Guard Armory property for public use.
The purchase of 4.7 acres, an entire city block, followed the passage of AB 2247 in 2016, which allowed the district to acquire the site based on fair market value.
“Securing the National Guard Armory property for public education provides far-reaching advantages for the Central Coast,” Board President Jacqueline Reid said in a news release. “Goleta, Montecito and Santa Barbara residents invested in this acquisition because they believed in the future benefit of the site. This has been an ongoing public process that has shown, over time, the commitment of many stakeholders.”
The school district will enter into a 60-day escrow to secure keys to the property, and the armory is being sold by the state of California “as is,” the release stated, noting that “once the acquisition of the property is complete, the district will conduct a more thorough assessment of the exterior spaces and buildings.”
WE THE PEOPLE OPENING IN LOMPOC
We the People, a national legal document preparation company, will open a branch in Lompoc on Nov. 1. The new document preparation facility is located at 1010 N. H St., in the Northside Shopping Center on the corner of H and North Street.
The company, headquartered in Wyoming, said the new branch will enable the company to provide better services in the Lompoc, Vandenberg Village, Solvang, Los Olivos, Santa Ynez, Buellton and Ballard Valley areas, according to a news release.
• Send submissions for the commercial real estate column to Annabelle Blair at [email protected]