New Office Building Almost Fully Leased

A new Thousand Oaks office building, which was built on speculation and completed last month, is already 93% leased, its developer says.

The building, the 20,000-square-foot Conejo Business Center on Hodencamp Road, is a project of Silagi Development & Management Co. of Thousand Oaks.

Silagi’s president, Moshe Silagi, says Conejo Business Center is the first office building completed in Ventura County in the past four years.

Pent-up demand for office space in the east county, combined with an improving economy, helped make the project a success, Silagi says. Leases valued at more than $3 million have been signed, according to Westcord Westoaks Commercial Group, the structure’s leasing agent.

Major tenants signed up so far include Greater Valley Medical Group, which has leased 11,000 square feet, and Magnetic Resonance Diagnostics Corp., which has signed up for 6,500 square feet.