Oxnard Office Building Gets New Name, Tenant

North Coast Executive Center, the Oxnard office building with the curved, green-glass facade, has changed its name, hired a new management company and attracted a major new tenant.

Henceforth, the 110,000-square-foot structure, which was completed in 1991 as the county’s commercial real estate market sank into recession, will be known as 1000 Town Center Drive.

In another move, the building’s owner, NCEC Realty Inc., a subsidiary of Citicorp, has named the Voit Cos. of Woodland Hills as the structure’s on-site manager.

And a new tenant, Shearson Lehman Brothers Inc., has leased 7,400 square feet of office space, bringing the building’s occupancy to 40%. Shearson is expected to move its brokerage offices from Thille Street in Ventura in mid-July.

The new name is the same as the building’s address alongside the Ventura Freeway. “We decided on a new name because we want to change the building’s image,” said NCEC spokesman Al Grazioli.

Last year, an effort to sell the $17-million structure in a televised auction failed when the highest bid amounted to only $6.5 million. Now, Grazioli said, NCEC hopes to attract more tenants and eventually sell the property. “But we aren’t going to let it go at a distress-sale price.”