COMMERCIAL
Boston-based Suffolk Construction Co., one of the biggest national construction companies, has opened an office in the Irvine Spectrum, where it hopes to serve its existing national client base as well as compete for new work on the hot Southern California building scene.
Mike DiNapoli, who moved here from Boston, is the new director of California operations for Suffolk Construction, ranked the 54th- biggest construction firm by Engineering-News Record magazine and No. 429 on Forbes’ private-companies list.
So far, DiNapoli said he has a staff of about 12 at the 2,500-square-foot office at 16485 Laguna Canyon Road, a number expected to double within the year as the company competes for new business.
In addition to seeking new business, the Irvine office will be responsible for overseeing West Coast projects for many of Suffolk Construction Co.’s existing clients, which include Marriott Hotels, Sunrise Assisted Living and Hilton Hotels. Suffolk Construction specializes in senior living product and hospitality work.
DiNapoli said his firm has started bidding for work, and expects to win some jobs in the next 60 to 90 days.
Another First American Pickup
First American Title Insurance Co. has acquired Grand Rapids, Minn.-based Itasca County Abstract Co. for an undisclosed sum.
Santa Ana-based First American, one of the nation’s largest title insurers, was attracted by Itasca County Abstract’s dominant position in Grand Rapids, where it has the only title plan in the county with more than 520,000 records dating to the late 1800s.
Itasca County Abstract, which was owned by Lake L. Huntley and Ann M. Smith and will continue to be managed by Smith, will retain its name as a wholly owned subsidiary of First American.
Voit’s Big LA Deal
It took a couple of Orange County brokers to close one of the largest leases this year in Los Angeles County.
Louis Tomaselli and Rob Socci, of Voit Commercial’s Anaheim office, along with the marketing team for landlord Majestic Realty Co., negotiated a 10-year, $16.8 million lease for 335,000 square feet at Majestic Realty’s Pico Rivera Business Center. The tenant is Pacific Coast Feather Co., which is moving from nearby space in Pico Rivera and was represented by Scott Heaton and Ken Coward of The Seeley Co.’s LA office.
Historically, Majestic Realty handles all the leasing for its properties in-house, but awarded this particular listing to Tomaselli and Socci because they were the brokers who brought the original land deal to Majestic Realty officials.
Still in development, the Pico Rivera Business Park will feature 856,000 square feet of industrial space. The first phase of the business park, consisting of three buildings totaling 520,500 square feet, is scheduled to be completed next month.
CT Finishes Newport Office Project
CT Realty Corp. has put the finishing touches on its first new development project in Orange County, a two-story 23,000-square-foot office building in Newport Beach.
The $3.5 million project at 20151 Birch St. will be the new corporate headquarters for CT Realty, which is taking 6,000 square feet at the new facility.
M.J. Knitter & Associates occupies 55% of the building. Pending leases with an insurance company, a homebuilder and a construction company will bring occupancy to 100%.
Opus Opens LA Office
Opus West has expanded its presence in Southern California by recently opening an office in Los Angeles. To date, the Phoenix-based company’s Southern California operation had all been managed out of its Irvine office, which was opened in 1996 and oversees more than 3.2 million square feet of new building under construction.
Gary Toeller, a former partner and senior vice president of Koll Development Company, has been tapped to run the new Los Angeles office. Toeller becomes the latest executive to leave the Koll real estate operation, which in recent months has lost Richard Ortwein, Vic Laidlaw, Jim Watson and others who have left to pursue opportunities on their own.
Opus West’s Los Angeles County business consists of developing a 125,000-square-foot build-to-suit development for Allstate Insurance Company in the Gateway Corporate Center in Diamond Bar.
RESIDENTIAL
Centex Homes has completed its $17 million acquisition of 126 lots in the Serrano Heights planned community in Orange from SunCal Cos. It is the second purchase in Serrano Heights by Centex Homes, which is selling homes in its St. Alban Ridge development.
Mackey O’Donnell, Craig Atkins and Mike Hunter of Costa Mesa-based O’Donnell/Atkins Company represented both Centex and SunCal in the transaction.
Boy, Did We Get Calls
The production data for real estate agents provided by Dynamic Marketing Resources Inc. and printed in the April 17 Business Journal’s Residential Real Estate special report represented listing sides (sellers represented) only for calendar year 1999.
It does not represent the total production of the agents (including buyers represented) or of other MLS member agents, which might have substantially changed the rankings, as implied by the headline.
