Walker Ralston Square
Industrial | 6.01% CAP | 117,987 SqFt
Marketing description
CBRE, Inc., as exclusive agent, is pleased to present a rare opportunity to acquire a two-building, multi-tenant industrial complex in an excellent location. Walker-Ralston Square is located on the beautiful Southern California Pacific Coast in Ventura, California. The City of Ventura, in Ventura County, is located approximately 68 miles northwest of Downtown Los Angeles and 25 miles south of Santa Barbara. Ventura County boasts some of the richest agricultural land in California, and is a thriving center of commerce, tourism and industry.
Built in 1979, the offering consists of two multi-tenant buildings totaling approximately 117,987 square feet, located on 5.14 acres of MPD zoned land, and are 100% leased. Located off the Victoria Avenue 101 Freeway exit, the Property has excellent 101 Freeway visibility and access.
Investment highlights
- Very flexible configuration with space for office or industrial users
- Excellent access to freeways, shopping, restaurants, and other retail
- Below replacement costs due to increasing costs and land values
- Class A Multi-tenant Industrial Buildings:
- Excellent opportunity to acquire a best-in-class leased investment with a mix of office, industrial and retail tenants in an A+ location.
- Well-designed two building project.
- Adjacent to the newly constructed VA hospital, police department, shopping, banks, restaurants, and numerous other retail uses.
- The City of Ventura has a pro-business environment with a 1.9% vacancy rate in industrial product as of the second quarter of 2025.
- 8 tenant configuration provides maximum leasing flexibility and greatly reduces vacancy risk
- Limited Future Development:
- Increasing construction costs, expensive new building code requirements (Title 24 and MS4) and higher land values coupled with a lack of available land have created barriers to new development. This will significantly restrict the development of future competitive multi-tenant projects.
- Significant Barriers to Entry:
- With the S.O.A.R. Initiative putting a cap on industrial zoned land and the recent conversion of several large industrial parcels to multi-family developments, there will be long-term constraint on the supply of new industrial product. This, coupled with high city fees, soaring construction costs, and a recovering user market, will translate into a spike in rents for existing product (particularly those that are well-located and functional).
- Proximity to Port:
- The property is just over 20 minutes or less from the Port of Hueneme, the only deep water harbor between Los Angeles and San Francisco. Trade through all the ports in the state of California, including the Port of Hueneme, is soaring particularly in automobiles and agricultural products.
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