Los Angeles, CA (September 2016) —Overton Moore Properties (OMP) today announced the groundbreaking of a new industrial development at The Point @ Simi Valley Business Center, the company’s latest, Class-A Industrial project in the area.
The four-building project, which is available immediately for sale, totals approximately 141,000 square feet, and can accommodate companies looking for space ranging between 30,000 to 42,000 square feet. The buildings, with majestic views of Simi Valley, feature modern design aesthetic with mature landscaping, 26-28’ clear heights, 120’ minimum truck courts and ESFR sprinkler systems. Construction is scheduled for completion in April 2017.
“Initial interest has been strong, and we believe the project will be well received by the brokerage and user community”, said Timur Tecimer, OMP’s Chief Executive Officer.
The Point is located two blocks south of the Simi Valley Freeway I-118 and approximately 10 minutes from the San Fernando Valley. The development sits on one of the last remaining parcels within the 87-acre master-planned project. Simi Valley is a business-friendly community and generally provides a lower-cost environment than the neighboring San Fernando Valley, according to Bennett Robinson, Executive Vice President at CBRE.
“Entrepreneurs are looking to locate their enterprises in state-of-the-art buildings in pro-business environments,” said Bennett Robinson, the listing broker on the assignment who will be handling the sale and leasing of the project. “Demand for high-quality Industrial space in the Greater Los Angeles area has been on the rise”
OMP acquired the Simi Valley property from Coca Cola Company in October 2015. Both parties were represented by Bennett Robinson of CBRE. The architect for the project is HPA and General Contractor Millie & Severson.
Ranked among the largest real estate developers in Los Angeles, Overton Moore Properties (OMP) is a privately held company specializing in real estate development, acquisition, master planning, marketing, asset management, property management, construction management, and financial reporting of industrial, office and mixed-use projects. OMP’s long-term franchise value, local market knowledge, deep relationships with tenants and the brokerage community and strong institutional relationships have contributed to its success throughout the past 41 years. OMP has constructed and acquired more than 36 million square feet of office, industrial, and mixed-use space, developing more than 1,598 acres of raw land throughout Southern California. The firm also owns and manages over 6 million square feet of space in the region.