Aliso Viejo has landed another large corporate headquarters.
Shea Properties says it plans to relocate from Walnut to the $30 million Town Center Corporate Park in Aliso Viejo, which it is developing.
“Town Center Corporate Park is a natural location for our headquarters given Aliso Viejo’s close proximity to many of our projects,” said W. William Gaboury, president of Shea Properties.
Town Center Corporate Park is a part of Pacific Park, a 900-acre business and research park. Other companies headquartered in the area are Fluor Corp., QLogic and Buy.com. Also nearby, Shea Properties has broken ground on a luxury apartment community, City Lights in Town Center. It is scheduled to open later this year.
Shea Properties plans to relocate to Aliso Viejo in March. Some 80 employees are expected to make the transition from Walnut to the new South County headquarters.
Gaboury pointed out that Town Center Corporate Park also will provide Shea employees with nearby dining and shopping centers.
“The project is adjacent to Aliso Viejo Town Center with major retail shops, restaurants, banks, future hotels and other amenities,” he said.
Town Center Corporate Park encompasses five low-rise office buildings totaling 192,733 square feet. The buildings range from 32,000 square feet to 52,000 square feet, with divisible suites from 8,000 square feet. Shea Properties will occupy 27,000 square feet on the first and second floors of a 32,000-square-foot building.
Gaboury says the relocation is part of an overall strategy by Shea Properties to be more centrally located to several of the company’s commercial, industrial, retail and apartment projects under development in Orange County, San Diego County and the Inland Empire.
A wholly owned subsidiary of the J.F. Shea Co. Inc. and a sister company to Shea Homes, Shea Properties owns and operates more than 5,000 apartment units and 2 million square feet of commercial real estate in California and Colorado. Another 10 million square feet and 7,000 units are in the development pipeline in Northern California, Southern California and Colorado, according to company officials. n
