George Argyros, former U.S. ambassador to Spain, is making his first big real estate play here since returning to Orange County in the fall.
Argyros’ Arnel & Affiliates of Costa Mesa plans to turn a former Super K in La Habra into a 220,000-square-foot shopping center. He’s teaming with Irvine-based Hopkins Real Estate Group on the deal.
“I love the real estate business and I love Southern California,” Argyros said.
The development partners plan to renovate the site’s existing 180,000-square-foot building and build another 40,000 square feet, according to David Ball, president of Arnel & Affiliates.
The developers are in talks with a couple potential tenants, according to Ball. They plan to wait to sign a lease or two before starting construction, he said.
In 2001, President Bush named Argyros ambassador to Spain after he played a key role in the president’s 2000 California campaign.
Argyros resigned his ambassadorship in November, after Bush’s re-election. He returned to OC, where he is chairman, chief executive and owner of Arnel.
The company continued to do deals in his absence.
For more on this story, see the May 16 edition of the Business Journal
