Business Services Industry

Commercial Property Leasing Sluggish in Ventura County, Calif.

Knight Ridder/Tribune Business News, October, 2002

By Roger Harris, Ventura County Star, Calif. Knight Ridder/Tribune Business News

Oct. 19--Commercial property leasing in Ventura County is sluggish, but a sharp increase in buying kept the market busy during the third quarter, a commercial real estate firm reported Thursday.

"With interest rates under 6 percent for commercial property, people want to buy," said Jerry Pelton, managing director of CB Richard Ellis' Ventura office.

Investors and user-owners will continue to look at buying commercial property as long as rates stay low, said Pelton, who expects low rates through much of 2003.

The east county market was the busiest area for sales in the July-August-September period. The 100,000-square-foot, five-building Westlake...

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