INDUSTRIAL MARKET REPORT - AIR CREINDUSTRIAL MARKET REPORT Ventura ounty 1st Quarter 2016 Produced in partnership with. ... appraisers, owners, investors and developers that make strategic

2016 Q1 Market Trends © 2016 by Xceligent, Inc. All Rights Reserved

INDUSTRIAL MARKET REPORT

Ventura County 1st Quarter 2016

Produced in partnership with


2

Table of Contents and Methodology/Map 2-3

Market Overview 4-5

Statistics by Market 6

Vacancy Rates & Asking Rates 7-8

Leasing & Absorption 9-10

Industrial Advisory Board Members 10

Xceligent Team 11

The Ventura County tracked set consists of an inventory of buildings considered to be competitive by the brokerage community. All buildings within the competitive tracked set have been reviewed and verified by members of the Advisory Boards for the market area.

Xceligent is a leading provider of verified commercial real estate information which assists real estate

professionals, appraisers, owners, investors and developers that make strategic decisions to lease, sell,

buy and develop commercial properties.

Table of Contents/

Methodology of Tracked Set

Tracked Inventory (Industrial)

The total square feet of all single and multi-tenant buildings greater than 10,000 sf, including

owner occupied facilities.

Available SF All of the available leasable space within a building, whether it is occupied or vacant, for

direct lease or sublease space. Space can be available but not vacant, for example, if the

landlord, or his agent, is marketing space that will be coming available at a future date

because a tenant is planning to move.

Vacant SF The total of the direct vacant square footage in a building that is being marketed.

Net Absorption

The net change in occupied square feet from quarter to quarter, expressed in square feet.

Note This report reflects Direct Vacancy and Absorption, Sublease space is excluded.


3

Industrial Market Map


4

Overview

Ventura County Industrial Overview

The Ventura County industrial market got off to a slow start in the first quarter, posting 37,280 square feet of negative net absorption.

With a limited number of new leases and a few medium sized tenants moving out, the markets vacancy rate remains at 3.7%.

Construction activity remains dormant throughout the region with no new projects breaking ground in the first quarter.

# of

Bldgs Inventory (SF) Total Available (SF) Total Vacant (SF)

Total Vacancy Rate (%)

Total Quarterly Net Absorption (SF)

YTD Total Net Absorption (SF)

Oxnard/Port Hueneme 514 23,237,156 1,398,971 606,058 2.6% (48,295) (48,295)

Ventura 351 9,371,041 279,936 206,862 2.2% 11,031 11,031

Conejo Valley 319 10,125,422 367,467 178,989 1.8% 16,391 16,391

Moorpark/Simi Valley 310 11,466,187 1,032,789 785,016 6.8% 16,543 16,543

Camarillo 273 10,445,880 879,445 727,448 7.0% (32,950) (32,950)

Fillmore/Santa Paula 66 2,542,949 11,856 - 0.0% 0 0

Grand Total 1,833 67,188,635 3,970,464 2,504,373 3.7% (37,280) (37,280)

# of

Bldgs Inventory (SF)

Sum of Direct Available SF

Direct Vacant (SF) Direct Vacancy

Rate (%) Direct Quarterly Net

Absorption (SF) YTD Direct Net Absorption (SF)

Oxnard/Port Hueneme 514 23,237,156 1,224,954 582,448 2.5% (24,685) (24,685)

Ventura 351 9,371,041 279,936 206,862 2.2% 11,031 11,031

Conejo Valley 319 10,125,422 318,869 178,989 1.8% 16,391 16,391

Moorpark/Simi Valley 310 11,466,187 1,003,607 785,016 6.8% 14,526 14,526

Camarillo 273 10,445,880 854,980 727,448 7.0% (32,950) (32,950)

Fillmore/Santa Paula 66 2,542,949 11,856 0 0.0% 0 0

Grand Total 1,833 67,188,635 3,694,202 2,480,763 3.7% (15,687) (15,687)

# of

Bldgs Inventory (SF) Available Sublease (SF) Sublease Vacant (SF)

Sublease Vacancy Rate

(%)

Sublease Quarterly Absorption (SF)

YTD Sublease Net Absorption (SF)

Oxnard/Port Hueneme 514 23,237,156 174,017 23,610 0.1% (23,610) (23,610)

Ventura 351 9,371,041 - - 0.0% - -

Conejo Valley 319 10,125,422 48,598 - 0.0% - -

Moorpark/Simi Valley 310 11,466,187 29,182 - 0.0% 2,017 2,017

Camarillo 273 10,445,880 24,465 - 0.0% - -

Fillmore/Santa Paula 66 2,542,949 - - 0.0% - -

Grand Total 1,833 67,188,635 276,262 23,610 0.0% (21,593) (21,593)

0.0%

2.0%

4.0%

6.0%

(200,000)

-

200,000

400,000

600,000

2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1

Historical Vacancy Rate & Net Absorption


5

Ventura County Industrial Overview

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1

Historical Vacancy Rates by Use

Whse/Mfg Flex/R&D

250,842

43,339

216,580

47,948

(41,737)

60,899

(71,817)

164,543

377,769

4,457

(150,000)

(50,000)

50,000

150,000

250,000

350,000

450,000

2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1

Historical Net Absorption by Use

Whse/Mfg Flex/R&D


6

Statistics by Market

# of Bldgs Inventory (SF) Total Vacant (SF) Sublease

Vacant (SF) Vacancy Rate (%)

Total Quarterly Absorption

YTD Total Net Absorption (SF)

Camarillo 273 10,445,880 727,448 - 7.0% (32,950) (32,950)

Whse/Mfg 179 6,774,292 619,368 - 9.1% 2,695 2,695

Flex/R&D 94 3,671,588 108,080 - 2.9% (35,645) (35,645)

Conejo Valley 319 10,125,422 178,989 - 1.8% 16,391 16,391

Whse/Mfg 255 6,729,132 106,510 - 1.6% 14,568 14,568

Flex/R&D 64 3,396,290 72,479 - 2.1% 1,823 1,823

Fillmore/Santa Paula 66 2,542,949 - - 0.0% - -

Whse/Mfg 59 2,417,931 - - 0.0% - -

Flex/R&D 7 125,018 - - 0.0% - -

Moorpark/Simi Valley 310 11,466,187 785,016 - 6.8% 16,543 16,543

Whse/Mfg 213 8,249,416 588,751 - 7.1% (6,905) (6,905)

Flex/R&D 97 3,216,771 196,265 - 6.1% 23,448 23,448

Oxnard/Port Hueneme 514 23,237,156 606,058 23,610 2.6% (48,295) (48,295)

Whse/Mfg 417 19,813,249 539,912 23,610 2.7% (64,222) (64,222)

Flex/R&D 97 3,423,907 66,146 - 1.9% 15,927 15,927

Ventura 351 9,371,041 206,862 - 2.2% 11,031 11,031

Whse/Mfg 306 8,216,735 172,355 - 2.1% 12,127 12,127

Flex/R&D 45 1,154,306 34,507 - 3.0% (1,096) (1,096)

Grand Total 1,833 67,188,635 2,504,373 23,610 3.7% (37,280) (37,280)


7

Vacancy Rates & Asking Rates

Vacancy Rate %

2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1

Camarillo 8.3% 8.6% 7.0% 6.6% 7.0%

Whse/Mfg 11.7% 11.7% 9.5% 9.2% 9.1%

Flex/R&D 2.0% 2.9% 2.4% 2.0% 2.9%

Conejo Valley 4.6% 5.3% 4.3% 1.9% 1.8%

Whse/Mfg 0.6% 0.8% 1.4% 1.8% 1.6%

Flex/R&D 12.6% 14.4% 10.1% 2.2% 2.1%

Moorpark/Simi Valley 5.6% 5.5% 5.4% 7.0% 6.8%

Whse/Mfg 4.4% 4.1% 4.0% 7.1% 7.1%

Flex/R&D 8.7% 9.1% 9.0% 6.8% 6.1%

Oxnard/Port Hueneme 4.6% 4.7% 4.3% 2.4% 2.6%

Whse/Mfg 5.0% 5.0% 4.5% 2.4% 2.7%

Flex/R&D 2.5% 2.9% 3.0% 2.4% 1.9%

Ventura 2.1% 1.4% 1.2% 2.3% 2.2%

Whse/Mfg 1.4% 1.1% 0.9% 2.2% 2.1%

Flex/R&D 7.6% 3.5% 3.2% 2.9% 3.0%

Fillmore/Santa Paula 0.4% - - - -

Whse/Mfg 0.5% - - - -

Flex/R&D - - - - -

Grand Total 4.8% 4.9% 4.3% 3.7% 3.7%

Average Weighted Direct Asking Rate

2015 Q1 2015 Q2 2015 Q3 2015 Q4 2016 Q1

Camarillo $0.64 $0.64 $0.65 $0.59 $0.59

Conejo Valley $0.83 $0.85 $0.86 $0.86 $0.91

Fillmore/Santa Paula $0.75 $0.75 $0.68 $0.68 $0.75

Moorpark/Simi Valley $0.59 $0.59 $0.56 $0.54 $0.57

Oxnard/Port Hueneme $0.52 $0.50 $0.50 $0.53 $0.57

Ventura $0.68 $0.60 $0.73 $0.53 $0.53

Grand Total $0.65 $0.65 $0.64 $0.59 $0.61


8

Vacancy Rates & Asking Rates

1.8%

6.8%

2.2%

7.0%

2.6%

0.0%

Conejo Valley Moorpark/SimiValley

Ventura Camarillo Oxnard/PortHueneme

Fillmore/SantaPaula

Vacancy Rate by Submarket

$0.91

$0.57 $0.53 $0.59 $0.57

$0.75

Conejo Valley Moorpark/SimiValley

Ventura Camarillo Oxnard/PortHueneme

Fillmore/SantaPaula

Average Weighted Asking Rates by Submarket

$0.39 $0.46

$1.10

$1.35

$0.56

$0.82

$-

$0.50

$1.00

$1.50

Whse/Mfg Flex/R&D

Asking Lease Rate Range by Type (NNN)


9

Leasing & Absorption

Largest Leases & Absorption Changes

Property Name SF Occupied or Vacated Tenant Name Submarket Specific Use

3850 Royal Ave 49,110 Bellami Hair Moorpark/Simi Valley Whse/Mfg

300 S Lewis Rd 39,372 Uncle Milton, Inc. Camarillo Whse/Mfg

1415 Lawrence Dr 35,153 MVAP Conejo Valley Whse/Mfg

2685 Park Center Dr 13,676 Currie Technologies Moorpark/Simi Valley Flex/R&D

546 Flynn Rd (19,638) Interlink Electronics, Inc. Camarillo Flex/R&D

3100 Camino Del Sol (23,610) Taconic Biosciences Oxnard/Port Hueneme Whse/Mfg

1600 Emerson Ave (24,708) Nevion USA Oxnard/Port Hueneme Whse/Mfg

Top Transactions

Property Name Sale Price SF Sold Buyer Seller Submarket Specific Use

2601 Camino Del Sol $12,500,000 127,511 ZDI-Mateo LLC Berdan Holdings LLC Oxnard/Port Hueneme Whse/Mfg

849-853 Via Alondra $3,000,000 25,491 Camarillo Recycling Inc Vala Properties LLC Camarillo Whse/Mfg

2001 Eastman Ave $2,730,000 17,004 Calvary Chapel of Oxnard Eastman/Hearst LLC Oxnard/Port Hueneme Whse/Mfg


10

Industrial Advisory Board Members

Ventura

CBRE

Bob Boyer

Paul Farry

Bob Kahn

Colliers International Patrick DuRoss

Daum Commercial

Bram White

Mike Walsh

Mike Tingus

Lee & Associates Grant Harris

John Ochoa


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This information has been obtained from sources believed reliable. While we do not doubt its accuracy, we

have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to

independently confirm its accuracy. For more information, please contact :

Matt Nelson Director of Analytics 714-509-1404 [email protected]

Monique Ebel Director of Research 714-538-8432 [email protected]

Mike Foxworthy Director of Client Services 805-807-6291 [email protected]

Tim Hayes Executive Director - AIR 213-687-8777 [email protected]

Xceligent Ventura County Team

Produced in partnership with

mailto:[email protected]




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INDUSTRIAL MARKET REPORT - AIR CREINDUSTRIAL MARKET REPORT Ventura ounty 1st Quarter 2016 Produced in partnership with. ... appraisers, owners, investors and developers that make strategic