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Thursday, May 30, 2024

First California Bank Hopes Move Boosts Efficiency

When First California Bank was created on March 12, 2007 by merging FCB Bancorp and National Mercantile Bancorp, the new company had several “corporate” offices. The bank holding company called Century City home while the bank’s headquarters were in Camarillo. Corporate administrative and support departments have been spread among three different buildings, said President C.G. Kum. “It was not efficient in terms of workflow or chemistry and team building situations.” So not longer after the merger was completed, Kum began working with Michael Slater of CB Richard Ellis in Camarillo to determine how best to consolidate operations. The solution was a move to Westlake Park Place which was under construction at the time. “We are renting one entire floor, about 20,000 square feet,” said Kum who said the project’s quality and amenities fit their requirements to a tee. About 75 people will be housed in the new space. Although a move to Westlake Village might not be seen by some as a major change from Camarillo, Kum said there’s a big psychological difference. “For whatever reasons, people perceive Camarillo as another world, mostly because of the Conejo grade.” First California knows that most their growth is going to come from the region south of Camarillo and being in Westlake Village will enhance their ability to recruit staff. <!– Facility: To be fully operational Sept. 1. –> Facility: To be fully operational Sept. 1. CBRE’s Slater, whom Kum referred to as “probably the premier office guy in Ventura County,” said that with First California being one of the first tenants in the new project, they were able to get more than just nice space. They also got signage on the three-story building at 3027 Townsgate Road which is visible from the 101 Freeway. “The whole third floor is wrapped in glass,” said Slater. “It’s really elegant.” A couple of departments have moved already and the new facility should be fully operational as of Sept. 1. Comerica Bank has leased a freestanding bank branch building and will be the other inaugural tenant, according to Mike Foxworthy, executive vice president of Daum Commercial Real Estate in Camarillo. Westlake Park Place, Foxworthy said, is definitely the Conejo Valley’s largest construction project underway presently, with five buildings encompassing 239,000 square feet in the first phase. By the time phase two is completed, the entire campus will have nearly 462,000 square feet in eight buildings. Xirrus Relocating Headquarters Another Conejo Valley transaction involves the leasing of 25,000 square feet at 2101 Corporate Center Drive by Xirrus, Inc. The building is the new corporate headquarters for the WiFi technology designer and manufacturer which moved from Westlake Village. Landlord Panattoni Development Company was represented by CB Richard Ellis veterans, Ken Ashen and Nick Gregg. Terms of the transaction were not disclosed. Contractor Brings Work In-House General contractor Tutor-Saliba is adding another 34,000 square feet to its holdings in Sylmar, purchasing one of the nine buildings in Voit Development’s recently completed North Valley Commerce Center. The Commerce Center is adjacent to Tutor-Saliba’s headquarters complex. “We are expanding our mechanical and electrical subsidiaries,” said Ron Tutor, president and chief executive. “It’s a two-story office space and behind it, within the building, is a big warehouse space where we’ll do inside fabrication.” The subsidiaries, Powerco Electric Corp. and Desert Plumbing, were acquired in September 2007 and January, 2008, respectively, Building G in the Commerce Center was agreed to be purchased for $6.5 million in cash, according to documents filed with the Securities and Exchange Commission by Perini Corp. Perini is in the process of merging with the privately-held Tutor-Saliba Corp. Making the Commitment After leasing its Burbank building for 10 years, Point.360 decided to purchase it for $8 million. The 31,000-square-foot property was purchased from Hollywood Way Office Ventures, LLC., with Stacy Vierheilig-Fraser, Stella Kanyan and Eugene Page of Charles Dunn’s Studio City office, representing both buyer and seller. It is the second building the company, which provides audio/visual services to the entertainment industry, has purchased in Burbank. Store Opening Delayed Sports Chalet’s flagship store in La Canada Flintridge was hoping to have its grand opening the same day as the start of the Olympics, on 08-08-08, but the company has now announced it will be cutting the ribbon for its new building on Aug. 21. The move will consolidate four buildings of about 40,000 square feet into a single 45,000-square-foot store in the newly completed La Canada Flintridge Town Center. Technically, the properties are not owned by Sport Chalet, but rather are leased from La Ca & #324;ada Properties, Inc., a corporation controlled by Sport Chalet’s founder, Norbert Olberz. Randy Stevenson of Stevenson Real Estate Services is handling the disposition of the original Sport Chalet property across the street from the new center. Staff Reporter Linda Coburn can be reached at (818) 316-3123 or at [email protected] .

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