MOORPARK, CA-Growing residential mortgage firmPennyMac has signed a five-year lease for a141,977-square-foot office building at 6101 Condor. Senior vicepresident Tom Dwyer of the Camarillo office ofCB Richard Ellis says that it’s the largest officelease in Ventura County so far this year.

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Dwyer, who represented building owner Calabasas BCD along withCBRE senior vice president Michael Slater in theCamarillo office, says that PennyMac needed a larger building tosupport its future business plan. The company, which was founded in2008, is moving to the Moorpark building from Calabasas. PennyMacis already partially moved in and is scheduled to complete the moveby year-end.

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

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

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