Phase II Under Construction at Conejo Spectrum Business Park

Sares-Regis Group has embarked on Phase II of its nine-building Conejo Spectrum Business Park in Thousand Oaks, according to the company.The next phase of the industrial campus will bring another 172,516 square feet for lease to the Conejo Valley submarket.The Conejo Spectrum Gateway development is located at the corner of Rancho Conejo Boulevard and Lawrence Drive. The first building of Phase II, at 1515 Rancho Conejo Blvd., is planned for 88,946 square feet with 17 dock-high doors, two ground-level doors, 30 feet of clear height, 201 parking stalls and 28 electric vehicle and bike parking stalls.The second building, to rise at 1489 Lawrence Drive, will cover 83,570 square feet.Both buildings will be ready for tenant build-out by the third quarter of this year.“Thousand Oaks – which is known as a premier suburban community in the Conejo Valley offering residents a high quality of life – has seen an explosion of growth of high-tech and biomed companies since Amgen settled here in 1980," said Steve Fedde, senior vice president of Sares-Regis Group Commercial Development, in a statement. “In addition, pandemic-related suburban migration and e-commerce demand has left very little high-quality industrial space in the market.”Architecturally the buildings will have contemporary glass-and-concrete designs, said Fedde, who pegs the facilities as “ideal for warehousing and logistics use as well as for companies engaged in light manufacturing and high-tech activities.”In 2017, Sares-Regis Group developed the original 505,378-square-foot Conejo Spectrum project. Those buildings, which ranged from 37,000 square feet to 98,000 square feet, leased quickly during construction. Sares-Regis sold the project to a REIT in 2019.Sares-Regis Group, a privately held real estate development, investment and management firm, is based in Irvine.