DAUM Commercial has brokered a 52,800-square-foot industrial lease for Westlake Storage Solutions in Thousand Oaks, Calif. Executive Vice President Bram White assisted the tenant, while Newmark Knight Frank Senior Managing Director Patrick DuRoss negotiated on behalf of the owner, Penwood Real Estate Investment Management.
Situated on 18 acres at 1467 Lawrence Drive, the 342,400-square-foot building was completed in 1962 and renovated in 2000, according to Yardi Matrix Data. The facility has a 15,000-square-foot office component, 17 dock-high doors and two grade-level doors. The tenant roster also includes Sensata Technologies and Giant Partners. Located northwest of Los Angeles, the property is within 1.5 miles of Highway 101, about 7 miles west of downtown Thousand Oaks.
The lease commences on August 1, but the company was granted early possession and will begin the move-in process this month. Westlake Storage Solutions is relocating its self storage operations from a 52,597-square-foot facility at 2451 Townsgate Road in nearby Westlake Village.
In June, a different DAUM Commercial team facilitated a 447,200-square-foot, full-building lease in Colton, Calif. The company assisted the owner, Black Creek Group, in the negotiations with tenant XPO Logistics.