Area Review: Ventura County, Calif

During the past decade, Ventura County, California, has experienced a 26% increase in population and a 44% increase in employment. As a result, the limited housing supplies and lack of multiresidential development have had a major impact on commercial development. Area business leaders, in conjuncti...

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Bibliographic Details
Published in:National real estate investor 1990-07, Vol.32 (8), p.92
Main Author: St George, Karen
Format: Magazinearticle
Language:English
Subjects:
Construction
Economic growth
Leases
Mixed use developments
Real estate
Real estate developments
Online Access:Get full text
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Summary:During the past decade, Ventura County, California, has experienced a 26% increase in population and a 44% increase in employment. As a result, the limited housing supplies and lack of multiresidential development have had a major impact on commercial development. Area business leaders, in conjunction with the Ventura County Economic Development Association, have responded by forming the Ventura County Marketing Group, an organization that focuses its efforts on promoting the county as a rich environment to site or relocate a business. In Oxnard, TOLD Corp. is developing a 6-story, 110,000-sq.-ft., Class-A office structure in Oxnard Towne Center. The office building is expected to be 70% preleased by its opening in mid-July 1990. In the retail market, the countywide vacancy rate stood at 6.4% at the end of the first quarter, up slightly from 5% in 1989. However, the vacancy rate is still below the historical average of 7% for the area and is among the lowest in the Southern California region.
ISSN:0027-9994