One of the nation's top three privately held development concerns will enter the Ventura County real estate market Monday when work begins on the $50-million Lincoln Technology Park in Camarillo.
The project also underscores the continuing emergence of Ventura County as a new frontier of high-end industrial development.
The developer is Lincoln Property Co. The project is a joint venture of Lincoln Property and the Bankers Life of Des Moines, Iowa.
Dallas-based Lincoln Property has built a total of 43 million square feet of commercial/industrial space valued at $3 billion--55% of it in California and Texas. Lincoln has been developing in Orange County for the past seven years.
Jay Smith, partner in Lincoln Property Co.'s Thousand Oaks Office, said, "We conducted an in-depth survey of a 60-mile Southland area and of the companies that have come into this particular market. We are convinced that Camarillo and the surrounding areas are at the hub of future development of research-and-development and other clean-manufacturing companies."
Lincoln is contemplating a "major high-rise venture in downtown Los Angeles" but for now is concentrating on the Lincoln Technology Park, which is being built on 35 acres, purchased from Charles Tomas of Tarzana, at U.S. 101 just off Flynn Road.
Phase 1 is expected to be completed in March. The park will be developed in three phases with a total build-out of 539,000 square feet. The first phase will consist of three buildings totaling 229,000 square feet.
Designed by Barasch Architects & Associates of Pasadena for companies specializing in light manufacturing and research and development, the project will feature an architectural motif that is unusual for the area, Smith said. The motif will merge contemporary design with an early-California paseo theme.
A landscaped paseo will complement the structures, which will feature contemporary angles and lines and recessed solar glass with mini plazas.
"Among the built-in factors, in addition to the diversity of building sizes and shapes, is the amenity of four parking spaces per 1,000 square feet," Smith said.
TOLD Construction Co. of Camarillo is general contractor, and Daum/Johnstown American's San Fernando Valley office is exclusive marketing agent.