Don Schisler Has Plenty to Do; Nordstrom Extends Fullerton Lease
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Staples Inc. has signed two new leases to fuel its expansion in Orange County.
The office-products company has inked a deal to sublease space from Vons at 3861 S. Bristol St. in Santa Ana, near the corner of Sunflower Avenue.
The supermarket moved across the street last year, leaving nearly 25,000 square feet of available space unused until now.
Staples will close its store a few blocks away at Bristol Street and MacArthur Boulevard when the switch is completed sometime during the second quarter.
“The new site provides more space, which is consistent with Staples’ newer store-prototype sizes,” said Jeff Moore, a first vice president of CB Richard Ellis in Anaheim who helped broker the deal.
The Framingham, Mass.-based chain also has signed a lease deal to open a new store at 241 E. 17th St. in Costa Mesa. The 25,531-square-foot Office Superstore is scheduled to open in February. It will be close to Newport Boulevard and fill an old supermarket space that had been left vacant, according to Moore.
“Staples does have an existing store on the other (west) side of Newport Boulevard,” he said. “They’re going to keep that open, because the two locations are viewed as different trade areas.”
The moves come on the heels of Staples opening a new store at 2050 Tustin Ave. in the Orange Villa Shopping Center late last month. The new Orange outlet, also previously used as supermarket space, is across from the Mall of Orange.
“Orange County is a strong retail market and all these locations are considered by Staples to be very strategic positions in relation to their competition’s stores,” said Moore.
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Don Schisler, owner of Coastal Investment Properties in Newport Beach, is planning for a very active 2000.
As reported in the Business Journal last month, Schisler is involved with developing six of the first office complexes at A.J. West Ranch.
But he and partner George Hedley, principal of Hedley Construction and Management in Newport Beach, also are moving forward on other fronts.
The pair is developing five office buildings in Aliso Viejo at Pacific Park Executive Plaza on Journey Street. The $10.2 million project is slated to be built this spring and will total 58,600 square feet of space.
“It will mainly be space developed to be sold,” said Greg Puccinelli of CB Richard Ellis in Newport Beach, who is one of the listing agents for the buildings. “But there could also be space available for someone to lease.”
Asking prices on the buildings will be $185 a square foot. Leased space will go for around $1.65 a square foot, triple-net.
Besides Puccinelli, other CB Richard Ellis brokers in Newport Beach working as listing agents for the properties will be Scott Johnstone, Chris Bates and Jon Marchiorlatti.
Meanwhile, in San Clemente, Schisler and Hedley are developing a 39,000-square-foot office complex. The building, which is going in the San Clemente Business Park on Avenida Fabricante, is expected to be completed around May. It also will be put on the market to be sold or leased.
Rob Johnston of Johnston Pacific Real Estate in San Clemente is the listing agent for the property.
Nordstrom has signed a five-year lease extension for 70,428 square feet of warehouse and distribution space at Walnut Business Park in Fullerton. The total rental consideration of the deal is valued at $2 million.
Nordstrom moved into the facility about 10 years ago, according to Cathryn DeFazio, manager for Investment Development Services’ Orange County office.
The Los Angeles-based firm manages and markets the property for EastGroup Properties of Jackson, Miss. The building is the only one in Orange County owned by EastGroup, which controls more than 1 million square feet of industrial space in Los Angeles County.
Nordstrom will continue to use the Fullerton building to make and store displays used at its retail outlets, said DeFazio.
Tom Dorman of CB Richard Ellis represented Nordstrom in the deal, which keeps the 204,000-square-foot Walnut Business Park at 2200 E. Walnut Ave. fully occupied.
Other key tenants include Corrugated Services, Tam Produce and Ideal Spa Covers.
IDS has a management portfolio of more than 16 million square feet and is managing the development of more than 5 million square feet of space for institutional and individual investors.
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Mike Hunter of Costa Mesa-based O’Donnell/Atkins Co. has brokered a $1 million deal for H.R. Development involving 6 acres of infill property near Temecula.
The acquisition by the Redlands-based homebuilder is expected to result in development of 24 single-family homes.
H.R. Development has built three other recent projects in the Inland Empire.
“This is a terrific opportunity for H.R. Development to enter the Murrieta-Temecula housing market,” said Hunter. “It is basically the last infill residential property of any size in the area.”
