Inline Inc. Takes Space in Orange; Christopher Homes Under Way on 372 Units
COMMERCIAL
A few weeks ago, the Business Journal reported on The Irvine Company’s decision to lower asking lease rates in some of its flex/tech offices. The news underscored that our economy is in a tough stretch, but not all is bad, especially for The Irvine Co.
The company has released a comprehensive announcement for its planned expansion projects.
“We have experienced strong job and residential growth in our trade areas in the past few years, particularly in the areas where The Irvine Co. is building new communities,” said Keith Erich, president of The Irvine Company Retail Properties. “This growth is projected to continue for the next several years, which will mean even further demand for a variety of retail goods and services.”
In all, the company is looking at more than 750,000 square feet of new retail space under development.
Among the major projects is a Phase III of the Irvine Spectrum Center. The 177,000-square-foot expansion will add more than 50 new stores, a 38-foot carousel and a 108-foot Giant Wheel.
Also coming soon is a 180,000-square-foot expansion to Irvine Spectrum Pavilion, its Phase III. Included in that development will be the first Southern California The Great Indoors Store, a home-improvement offering from Sears Roebuck and Co.
Other expansions are set to take place at The Commons at Irvine Spectrum, its Phase II; Fashion Island; Newport Ridge; Crystal Cove Promenade; and Cherry Orchard in Sunnyvale, the company’s first “off-ranch” retail project. Cherry Orchard is adjacent to The Irvine Co.’s apartment community in the Silicon Valley area. Its retail elements include Borders Books and P.F. Chang’s.
Jeff Dodd, vice president of leasing for regional centers in the retail properties unit, will manage the leasing of the company’s regional centers,Fashion Island, Irvine Spectrum Center, Corona de Mar Plaza and Crystal Cove Promenade. Chris Auer, vice president, leasing for non-regional development centers, will manage leasing efforts that support all of the new development centers.
Inline Heads to Orange
Inline Inc., a division of Anaheim-based Extron Electronics, is moving its operations to Orange. Inline, a maker of high-resolution video products and advanced audiovisual system tools, leased an entire building totaling 57,636 square feet at 810 W. Taft Ave.
Inline, which paid approximately $5 million for the lease, will relocate from its home at 22860 Savi Ranch Parkway in Yorba Linda during the third quarter 2001.
Tom Dorman of CB Richard Ellis’ Anaheim office represented the building owner, Mario Antonini, and Sperry Van Ness represented Inline in the deal.
Bits and Pieces:
Costa Mesa-based The Roxburgh Agency Inc. will provide public relations for Continental Development Corp. to launch The Atrium, a $70 million office mid-rise in El Segundo. The Atrium will be part of Continental Park, a 3 million-square-foot campus-style complex. Kathleen Flood, vice president of public relations at Roxburgh, will head the account Guthrie Development Co. of Laguna Hills has acquired Certified Asset Management Corp. Renamed Guthrie Asset Management Co., it will manage property and assets for all Guthrie Development projects. “This strategy complements our development activity by providing a stable cash flow and a network of tenants who may become future building buyers,” said Rob Guthrie, founder and president of Guthrie Development. Guthrie Asset Management also will provide services for third-party clients, which currently include West America Graphics in Foothill Ranch and Wal-Mart Stores Inc. at Foothill Town Center Phase III A Lake Forest company, PCM Internet Services, a division of Professional Community Management of Lake Forest, develops Web sites for homeowner and community associations in Orange County. Most recently, the company launched a Web site for the Encantamar Homeowners Association in Dana Point. PCM Internet Services now maintains more than 60 Web sites including Northwood Horizons Homeowner Association, Turtle Rock Crest Community Association and the Turtle Rock Crest Maintenance Association, all in Irvine.
RESIDENTIAL
Newport Beach-based Christopher Homes has begun development of five single-family, detached-home neighborhoods, totaling $232 million. In all, Christopher Homes will build 372 units in Orange and San Diego counties.
Among the largest of the five projects are two neighborhood developments in Huntington Beach. The $41 million Lighthouse at The Boardwalk will include 65 two-story homes with prices beginning in the $600,000s. Also, the $49 million Shoreline at The Boardwalk features 60 two-story homes beginning in the $800,000s. Both are in the Huntington SeaCliff masterplanned community.
