Financial Title will occupy the mezzanine and ground floor office space of the two-story mixed-use building, which will serve as administrative and corporate offices for the company, according to Colin Foutz and Tim Foutz of NAI Capital.

Colin Foutz tells GlobeSt.com that Financial Title has about 20,000 sf of offices in nearby Chatsworth and will continue to occupy that space. He says the company has leased all of the office space in the Simi Valley building, which measures 98,000 sf and was built in 1983. Besides the 33,700 sf of office space to be occupied by Financial Title, Foutz explains, the building includes about 64,000 sf of warehouse space that is leased to two other companies. Financial Title has already moved into the first floor offices in the building while tenant improvements on the second floor are completed. The property is owned by Pacific Royal LLC, which was represented by Bob Kahn of CB Richard Ellis Inc.

Simi Valley is one of half a dozen submarkets that constitute the Simi Valley-Conejo Valley office market, which comprises just under seven million sf and posted an availability rate of about 18% in the latest quarterly market surveys. The overall asking rate averages about $2.15 per sf per month and ranges from $1.35 to $2.70.