Cypress Land Company Lands 130K-SF Lease in LA
The deal is valued at $46.5 million
By Greg Cornfield June 9, 2023 9:20 am
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ResMed Motor Technologies is set to relocate from its Chatsworth location in Los Angeles after signing a long-term lease in Calabasas.
The medical equipment manufacturer, whose products include ventilators and sleep apnea masks, committed to a 15-year deal for 128,700 square feet at an R&D industrial building with landlord Cypress Land Company. The deal is valued at $46.5 million, and the relocation is slated for early 2024.
Lee & Associates announced the lease and represented the landlord. The brokerage said ResMed was looking to expand into a larger facility with additional parking, and to be close to the labor market in the Conejo Valley area.
The property is at 26801 Agoura Road at Lost Hills Road, just off the 101 Freeway. Lee & Associates said this is the first time the property has been available to lease since it was built in 1998.
Lee & Associates’ Mike Tingus and Grant Fulkerson completed the lease on behalf of the landlord. Cushman & Wakefield (CWK) represented the tenant.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
