Rantec Microwave, one of the leading manufacturers of defense, communications and satellite antennaes, has executed an option to purchase for $5.3 million the Westlake Village industrial building it leased 18 months ago, Colliers International has reported.
Rantec, which originally leased the high-quality industrial building in 2012, was represented in both this most recent purchase transaction and in its original lease negotiations by Daum Commercial’s Kevin Tamura and Ron Berndt.
Seller of the approximately 44,171-square-foot property was Beverly Hills-based Black Equities, a real estate investment and development firm that owns commercial properties throughout the nation. The seller was represented by Colliers Senior Executive Vice President John DeGrinis, SIOR; Vice President Patrick DuRoss; and Associate Vice President Jeff Abraham, who are all based in the firm’s Encino office.
“This is a unique deal because there are very few industrial buildings like this in Westlake Village and few transactions occurring right now in the entire Conejo Valley marketplace,” said DeGrinis. “This particular company liked the combination of industrial space and the larger-than-average component of office space and has combined the two into both a high-tech manufacturing plant and a corporate headquarters facility.”
According to DuRoss, the building contains 13,000 square feet of recently renovated high-image office space on two levels, 31,000 square feet of warehouse/manufacturing space that Rantec uses to manufacture its antennae components, five dock-high and one ground-level loading doors, and parking for 108 automobiles. It’s also located near Westlake Village’s retail amenities, including the Four Seasons Hotel, and has direct access to the Ventura Freeway (101).
“It’s just rare to find this type of high-quality industrial building anywhere in the Conejo Valley and that’s why Rantec, or any company in the same situation, was smart to pull the trigger on its option,” said DeGrinis. “If a company like this knew it wanted to stay in Westlake Village, and knowing how scarce industrial buildings in this part of the Conejo Valley are, it was a smart move on their behalf.”