Local Commercial Real Estate News

This coming July, residents in and around Westlake Village, CA will have a new superstore to shop at. According to a press release posted in
November of 2013, Target will be opening its doors on Russell Ranch Road in July, 2014 as part of the Shoppes in Westlake Village, a large & new
commercial development. Target is currently in construction and is estimated to be at least 138,000 square feet. It is considered a "modified" Target
in order to fit in with the community. The store will include grocery items such as fresh produce, pre-packaged baked goods, and fresh-packaged
meat. In addition, it will include a pharmacy and a Starbucks.

The Shoppes at Westlake Village is conveniently located right off the 101 Freeway at the Lindero Canyon Road off-ramp. It is part of the Westlake
North planning area, which was created in the late 1980's. The Westlake Village City Council approved the development of the Shoppes in May of 2012.
In addition to Target, the Shoppes will include 100,000 square feet of upscale shops and restaurants, along with Total Woman (a gym and day spa).
The new development has over 25 spaces available for lease. These spaces are anywhere from 900 to 45,000 square feet.

The Shoppes at Westlake Village is expected to be a positive contributor to the local economy by adding over 200 new jobs and an increased annual
City tax revenue of $850,000 + (which should increase to over $1 million in a couple years).

Westlake Village is considered a highly affluent community located in the Conejo Valley (about 9 miles northeast of Malibu). The city consists of over
60,000 households and has an average annual household income of $131,000. Within 5 square miles of this new commercial development, there is
over 8 million square feet of office space - and within a ten minute drive, there are over 130,000 employees.

Whether you are looking to expand your operation in the Conejo Valley or you would like to renew the lease on your current office space, Cook
Commercial is here to assist you. We will provide you with the tenant representation services you need to help you accomplish your commercial
real estate goals.

Contact our Calabasas office today for more information at (818) 591-4400.