$6.5-Million Phase 1 Completed in Orange

The $6.5-million first phase of Orange Canyon Village Shopping Center is completed in Orange on the southwest corner of Chapman Avenue and Newport Boulevard.

Orange Plaza Associates, a general partnership between Fullerton Savings & Loan and Orange Pacific Associates, developed the project, which has 47,000 square feet of space 90% leased, according to Coldwell Banker, the leasing agent. Phase 2 is expected to be under construction early next year.

Safeway to Be Anchor Safeway and Sav-On Drugs are expected to be anchor tenants of the $6.5-million Ferrara Plaza, a nine-acre neighborhood shopping center planned on the southeast corner of Citrus Avenue and Valley Parkway in Escondido.

Pacific Development Group is developing the project on leased land that has been part of the Ferrara family’s historic vineyard. Ground breaking is scheduled during the second quarter of 1985 with the center opening projected for the end of the year.

Lomita Parcel Purchased Joseph Dabby, Los Angeles real estate developer, has purchased a 2.1-acre parcel in Lomita for $1.66 million from Katinka Watts, according to National Properties Group of Torrance, which handled the transaction. Dabby plans to build a 35,000-square-foot shopping center on the site, with completion scheduled during the first quarter of 1985.

San Clemente Site Sells The Shorecliffs Shopping Center in San Clemente was sold for $3.5 million, according to Marcus & Millichap Inc., which represented the principals. David Johnson was the seller; Pacific Coast National Development Corp., the buyer.

Renovation Under Way The $5-million renovation of the 47-acre Escondido Village Mall is under way by La Caze Development Co. of Rolling Hills with the second phase expected to begin early this year. Anaheim Project Opens The $2.1-million Anaheim Hills Shopping Center has opened at 6300 Santa Ana Canyon Road.

Escon Builders built the 6.61-acre project, developed and owned by Redondo Investment Co.