Snyder Langston Revamps Irvine Tech Center; Whittlesey Doyle Moves Land
Charles Dunn Co.’s newly formed Premier Services Group has closed on its first two deals, totaling $11 million.
In the first deal, the Premier Services Group negotiated the sale of a three-story, multi-tenant office building in Anaheim Hills. Tim Good, Steve Ehrich and William Hugron of the unit represented San Diego-based Anahills Holdings Inc. in selling the 38,000-square-foot building at 8141 E. Kaiser Blvd. The buyer, Dolphinshire LP, was represented in-house.
In the second deal, Good, senior managing director of the Investment Properties Group for Charles Dunn, represented Given Family Trust in the purchase of a 148,784-square-foot industrial facility at 13170 Marlay Ave. in Fontana. Ron Washle of Grubb & Ellis Co. represented the seller, Principal Life Insurance Co.
Headquartered in Irvine, the Premier Services Group will focus on providing investment opportunities for institutional and private owners of industrial, office, flex and business park assets in Orange County. The new group consists of Good, Douglas Golden, Hugron, Ehrich and John Allen.
Changes keep coming with Equity Office Properties Trust’s acquisition of Spieker Properties Inc. The latest: Insignia/ESG Inc. will manage and serve as leasing agent for a 1.4-million-square-foot industrial, R & D;, and office portfolio formerly managed by Spieker.
The portfolio’s assets stretch from San Diego to the Inland Empire. Major holdings include Pacific Ridge Corporate Center and La Place Court in San Diego and One Lakeshore Center, Ontario Corporate Center and Empire Corporate Center in Ontario.
“We wanted to align ourselves with a management firm that closely mirrors our philosophy of both employee dedication and customer service. We believe we’ve done that,” said Equity Office’s Bert Dezzutti, senior vice president for the Los Angeles region.
“We are delighted that Equity Office selected Insignia for this prestigious assignment. This corresponds directly with our strategy to associate with the highest-profile properties and ownership companies on the West Coast,” said Dave Pogue, Insignia’s executive managing director, property services, for the West region.
Irvine-based Snyder Langston has completed rehab and renovation work on the 58,000-square-foot building at 2601 Campus Drive.
“The client, Menlo Equities, wanted to convert an industrial/office building that was built more than 30 years ago into technology-oriented office space,” said Ward Mace, a principal at Snyder Langston. “The result is the renovated Irvine Technology Center at a cost of $1.2 million.”
Current Snyder Langston projects include the Irvine Spectrum Center, Phases 1, 2 and 3; Pelican Hill Golf Club in Newport Coast; and the restoration of the Balboa Bay Club in Newport Beach.
Bits and Pieces:
Los Angeles-based General Bank, a commercial bank specializing in real estate and construction lending, opened a branch in Aliso Viejo at 65 Enterprise. It is General Bank’s fourth branch in OC Colliers Seeley International promoted former Chief Operating Officer Jeff Scheferman to president and chief executive. He replaced former Chief Executive Robert “Cody” Plott, who resigned. According to reports, Scheferman will focus primarily on Colliers Seeley’s expansion in the regional markets and in strengthening the firm’s product offerings both regionally and nationally The Southern California Chapter of Associated Builders and Contractors scored a victory recently over the Rialto Unified School District’s proposed project labor agreement on a $60 million project to build a new high school. On July 11, the school board made no motion to vote on the agreement, dropping it for now.
Irvine-based Whittlesey Doyle recently closed on land deals in the masterplanned communities of Providence Ranch in North Corona and Chapman Heights in Yucaipa.
At Providence Ranch, Riverside-based Griffin Communities purchased 89 lots, Newport Beach-based Capital Pacific Holdings bought 49 lots and Irvine-based Hearthside Homes closed on 83 lots in Phase 1 of the masterplanned community joining Newport Beach-based Lyon Homes, Irvine-based Western Pacific Housing and Irvine-based Stratham Homes in the project. That sells out the lots in Phase 1, according to Les Whittlesey, the exclusive agent for the planned community.
Stratham Group, the community’s developer, has plans for three more phases in Providence Ranch, with the build-out totaling 1,245-units.
“North Corona has been experiencing extremely encouraging sales since the beginning of the year and is expected to take the place of the Corona market for affordable housing,” Whittlesey said.
At Chapman Heights, a 2,118-unit masterplanned golf community developed by Communities Southwest, Hearthside Homes closed on 29 lots, giving it a total of 58 there. Also, Riverside-based Howard Roberts closed on 24 lots at Chapman Heights.