Industrial

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Industrial/11″/mike1st/jc2nd

By CHRISTOPHER WOODARD

Staff Reporter

A developer has unveiled plans for the second of two industrial complexes along the Ventura (101) Freeway high-tech corridor, looking to fill a niche for smaller, single-tenant industrial buildings.

Santa Ana-based Burke Real Estate Group plans to develop a $10.2 million industrial complex in Camarillo called the Burke Camarillo Corporate Center. The project, which is being developed in an existing industrial park south of the 101 Freeway, will feature 18 buildings of less than 10,000 square feet each for a total of 120,000 square feet.

The complex, which was approved by the Camarillo City Council on Sept. 8, comes on the heels of Burke Real Estate’s development of Grande Vista Business Park, a $13 million project in Thousand Oaks that the company began developing last year. Burke has already sold or leased 70 percent of that project.

“What we found in Camarillo and Thousand Oaks is, there’s a hole in the market in terms of 5,000- to 10,000-square-foot buildings for sale,” said Jason Harris, a project director at Burke. “We’re serving that demand there.”

So far, the company has commitments from two companies wishing to buy into its Camarillo project and a third is close to signing, Harris said.

Bob Pettit, a Thousand Oaks-based broker working with Burke to market the properties, said both projects cater to smaller, mostly high-tech companies looking to take advantage of the tax and other benefits of owning their own buildings.

The Camarillo project is slated to begin in December, with completion expected next summer. Burke’s Thousand Oaks project was the first speculative industrial project to be undertaken in Ventura County in nearly 10 years. Burke has pre-sold or pre-leased all but six of that project’s 22 buildings.

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