Company hopes land-use change brings big tenant

Simi Valley, October 10, 2014
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The former Simi Valley headquarters of clothing company Bugle Boy has been rezoned to make it easier to market to businesses.

The Simi Valley City Council unanimously voted Sept. 29 to change the zoning on the Younan Executive Center, a 6.3-acre property at 2900 Madera Road north of the 118 Freeway, from industrial to business park designation.

In addition to Bugle Boy, Countrywide, which later merged with Bank of America, occupied the facility for more than a decade before moving out in November 2013. Some 63,000 square feet of office space is now available for lease.

“Allowing a business park designation, which is basically how the building has operated anyway because Countrywide was there and after that Bank of America, gives us more flexibility for the kind of tenants that we can lease,” said Denise Davis, vice president of corporate communications for Woodland Hillsbased Younan Properties, which owns and manages the property.

Sean Gibson, a planner for the city, said Younan Properties is marketing the building to find a tenant and wants to change the land use to allow for a wider variety of office uses.

The business park land-use designation allows for the space to be used for offices, research and development and a limited range of commercial uses located to serve the surrounding industrial park and its tenants, Gibson said.

Additional uses allowed under a business park that are not allowed under industrial zoning include financial services, real estate, insurance, medical, legal and researchtype uses, Gibson said. No physical changes to the building or site are proposed at this time because it is suitable for office use, he said.

Councilmember Keith Mashburn said he believes this is an opportunity for the city. “To bring in a company like the Younan Properties to work with us is the kind of company that will sit down with the local government and come up with ideas and present options,” Mashburn said. “At this economical time, I think that is exactly what the city is looking for—someone who can come in and work with us and give us absolute, unlimited opportunities. So I’m very happy with this.”

lgm 04 18 16 260 webYounan Properties invests and provides asset management services for Class A office properties, retail centers, golf courses and luxury resorts on behalf of private, corporate and institutional investors. Today, the company has assembled a fully scalable, international platform with a valuation of more than $1 Billion.

In 2015, the Company made its first investment in France through La Grande Maison Younan Collection, which acquires luxury resort properties. Château du Petit Chêne Hotel & Golf Course is located in Mazières-en-Gâtine. Recent luxury hotel acquisitions include Logis Saint Martin in Saint Maixent l’Ecole, and Chateau Germond in Germond-Rouvre.

Château du Petit Chêne Hotel & Golf Course

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