Sares Regis Group has started ground-up construction on Huntington Gateway Business Park, the largest new industrial project currently on the books in the county.
The 610,000-square-foot project at 5301 Bolsa Ave. will include three buildings; the smallest will be 166,841 square feet, the second building 184,354 square feet, and the largest will be 259,078 square feet.
Each will be divisible for up to 10 tenant spaces ranging in size from 25,000 to 100,000 square feet, according to a Huntington Beach city report.
The buildings will have office and mezzanine storage space; the city envisions they will be used as corporate headquarters and for light manufacturing and warehouse uses.
The project is expected to be completed in about a year.
Boeing Collection
The Irvine-based developer bought the 30-acre site last year for $72.8 million from defense and aerospace giant Boeing Co., which has been shedding jobs at its sprawling Surf City campus over the past few years.
The site’s most prominent building was an eight-story, 285,000-square-foot office that was knocked down earlier this year to make way for the new development.
It’s at the intersection of Bolsa Chica Street and Bolsa Avenue, and is to the immediate west of a nearly 56-acre parcel also recently bought by Sares Regis from Boeing.
The company paid about $113 million for that parcel of land along Bolsa Avenue at the end of March.
It currently holds a roughly 923,000-square-foot collection of connected office buildings and other Boeing facilities, part of which has been leased back to Boeing for two years.
Ultimately, the low-rise buildings are expected to be razed to make way for a collection of new industrial properties by Sares Regis.
Those two deals put the developer’s Surf City land buys from Boeing at about $186 million over the past year.
