A 15-year lease has been brokered for a free standing, 128,700 SF state-of-the-art R&D industrial building located at 26801 Agoura Road in Calabasas, California. This property, situated just off the 101 Freeway, will serve as the manufacturing facility for ResMed Motor Technologies, a medical equipment manufacturer. The lease consideration for this transaction is estimated to be around $46.5 million, making it the largest industrial lease transaction in Conejo Valley on record.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $46.5 million
• Market: Calabasas
• Address: 26801 Agoura Road
• Tenant: Nathan Row - ResMed, Inc.
• Landlord: Brian Harvey - Cypress Land Company
• Brokers: Mike Tingus & Grant Fulkerson - Lee & Associates
• Asking Rent: $1.65/ft
• Size: 128,700 SF
• Lease Term: 15 years

The transaction was successfully completed by Mike Tingus, president, and Grant Fulkerson, SIOR, principal, both from Lee & Associates - LA North/Ventura, Inc. Mike and Grant represented the landlord, Cypress Land Company, while the tenant, ResMed Inc., was represented by Michael Weiss of Cushman & Wakefield.