MOORPARK, CA-Growing residential mortgage firm PennyMac has signed a five-year lease for a 141,977-square-foot office building at 6101 Condor. Senior vice president Tom Dwyer of the Camarillo office of CB Richard Ellis says that it’s the largest office lease in Ventura County so far this year.

Dwyer, who represented building owner Calabasas BCD along with CBRE senior vice president Michael Slater in the Camarillo office, says that PennyMac needed a larger building to support its future business plan. The company, which was founded in 2008, is moving to the Moorpark building from Calabasas. PennyMac is already partially moved in and is scheduled to complete the move by year-end.

Dwyer says PennyMac chose the building “because it provided room for growth, parking and a professional environment. In addition, its central location gives the tenant access to a strong base of highly skilled employees from a wide geographic area that includes the Conejo Valley, Simi Valley, Moorpark, West Ventura County and the San Fernando Valley.”

Terms of the lease were undisclosed. Asking rate for the space is about $1.85 per square foot per month, full service gross. PennyMac was represented by Jim Travers and Steve Eyler of Travers Realty.