Harbor Freight Tools has signed a 228,990-square-foot, 15-year lease at the Corporate Center Calabasas, according to a release from CBRE, which represented the landlord, Majestic Asset Management in the deal. The lease is one of the 10 largest in the San Fernando Valley and Conejo Valley to date.
The tenant will be relocating from its current Calabasas location at 26541 Agoura Road. The Corporate Center lease at 26565-26709 Agoura Road will serve as the national tool retailer’s new corporate headquarters. The company will occupy a total of four buildings out of the six buildings, ranging in size from 38,000 to 93,000 square feet that make up the park-like campus located along the 101 Freeway corridor.
“Timing is everything in real estate. Over the years, Harbor Freight Tolls had inquired about availability at Corporate Center Calabasas,” Tom Dwyer, a senior vice president at CBRE, said in the release. The space became available when existing tenants chose to downsize and an individual building owner within the campus expressed interest in selling a near-vacant building.
CBRE’s Michael Slater, Caroline Bigelow and Andres Uribe represented Majestic with Dwyer, while Matthew Miller of CRESA handled the deal on behalf of the tenant.
CBRE declined to provide further lease details and Miller declined to comment.