Business Parks : Newbury Park Project Construction Finished
Phase 1 of Thousand Oaks Business Park has been completed on 16 acres in Newbury Park by Investment Building Group of Los Angeles, with Told Construction Co. of Camarillo the builder.
The $15-million, 213,000-square-foot first phase, on 12 acres bounded by Rancho Conejo Boulevard, Hillcrest Drive and Oak Terrace Lane, contains seven research-and-development and light-industrial buildings ranging from 11,800 to 54,000 square feet. William Simpson & Associates, Newport Beach, is the architect.
Told also has been retained to put in roads, sewers, water, storm drains and all other off-site and on-site improvements. Buildings are available for lease, lease with option to buy or outright purchase through Told Real Estate Corp., Newbury Park.
Park, Sites Bought
Trico Realty has purchased a business park and two industrial-building sites within the 300-acre Moreland Industrial Park near the intersection of Kraemer Boulevard and Imperial Highway in Brea.
The purchase includes the Birch Hills Business center with 63,000 square feet of existing buildings on 3.5 acres, an adjacent 3.2-acre parcel to be improved with a 55,000-square-foot building and a 2.5-acre site for a 46,000-square-foot building. Trico values the whole project at $8 million when completed and will develop, lease and manage the facility.
Buildings Completed
Dunn Properties Corp. has completed construction and closed escrow on two build-to-suit facilities valued at a total of $3.6 million at the 57-acre East Anaheim/Dunn Business Park on La Palma Avenue west of Imperial Highway.
One is a two-story, 50,000-square-foot corporate headquarters and distribution center for Quality Research Engineering on 2.5 acres and valued at $2.6 million. The other is a two-story, 16,000-square-foot corporate headquarters and manufacturing plant for Macrolink. Business Properties of Anaheim was the exclusive brokerage firm.
Site for Park Bought
Kaiser Development Co. and Financial Scene Inc., in joint venture, have purchased a 62-acre site in the Lomas de Yorba planned community along the Riverside Freeway near Weir Canyon Road and La Palma Avenue in Yorba Linda for $15.8 million from Campeau Corp. California.
The purchasers plan to develop the property with research-and-development and industrial buildings as the Yorba Linda Business Park. It is divided into 20 parcels to be developed and sold.
Financing Arranged
First-trust deed financing of $5.4 million has been arranged with the Boston Real Estate Counsel, Boston, a pension fund adviser, for G & S Properties, Mission Viejo, to fund The Courtyard, a garden office complex in the Mission Viejo Business Plaza, Mission Viejo.
The Courtyard consists of two two-story buildings with 51,160 square feet of leasable space on 3.72 acres, valued at $6.7 million. G & S Properties’ financing was arranged by Cornerstone Corp. of Irvine.
Financial Plaza Finished
Greenwald/McDonald, San Diego, has announced completion of the $8.8-million, 72,000-square-foot Classified Financial Plaza, 11770 Bernardo Plaza Court, Rancho Bernardo. Designed by Steppe & Wilson, Phoenix, it consists of two three-story buildings, a courtyard and an elevator tower in Spanish styling.
The Plaza was built by Nielsen Construction Co., San Diego, with landscaping by Landscape Resources Inc., Solana Beach. Coldwell Banker Commercial Real Estate Services is the leasing agent. Greenwald/McDonald is the general partner of Rancho Bernardo Limited Partnership, the developer.
$3-Million Park Planned
Plans have been announced to build a $3-million, 70,000-square-foot industrial and research-and-development facility on 4.9 acres in Kaiser Development Co.’s new Rancho California Business Park.
The site was purchased from Kaiser Development by Fred Lamb, Thomas Gabric and John Pfaffl for an undisclosed price. No date has been set for start of construction.
Parks Under Way
Construction is under way for an early September completion at the $2-million Centennial Business Park, a 40,000-square-foot development on 2.27 acres at 1500, 1502, 1534 and 1536 Eastman Ave., Ventura. Builder is Centennial Land Co. and the agent is Told Real Estate Corp., Ventura.
Told Real Estate is also the agent for the projected business park at 1400 W. Betteravia Road, Santa Maria. Industrial Park West of Santa Maria bought the site from Lampert Eskridge of Sherman Oaks for $1,115,000 and has subdivided it into 20 parcels ranging from one to 9.4 acres; built-out value is estimated at $30 million.
Phase 2 Completed
The $1.3-million second phase of Southrail Business Park, near Jayken Way and Marsat Court in Chula Vista, has been completed. The 38,500-square-foot phase consists of four industrial buildings with spaces ranging from 1,794 to 10,440 square feet. Grubb & Ellis Commercial Brokerage Group is the leasing agent.
Center Nearly Filled
Leasing has reached the 90% mark at Nexus Development Corp.’s Laguna Hills Financial Center, a $20-million, seven-story, 110,000-square-foot project at 23046 Avenida de la Carlotta, Laguna Hills. Coldwell Banker is the anchor tenant.
Park Under Way
Astral Properties International has under construction the $11.8-million, 190,000-square-foot Cochran Business Park adjacent to the Simi Valley Freeway at the 1st Street off-ramp on the north side of Chochran Street, Simi Valley.
Completion is scheduled for mid-August. The architect is J. David Osborn & Associates; the builder is Oltmans Construction Co., Monterey Park, and Brown/Realtors Commercial Brokerage, Thousand Oaks, is the leasing agent.
Past Half-Way Mark
Construction is nearing completion at the $10-million Viewridge Business Park on Viewridge Avenue at Balboa Avenue in Kearney Mesa, San Diego. It will consist of three two-story buildings with solar reflective gray glass and matching spandrels.
The developer is WesTerra Development; the designers were Howard Oxley and Duncan & Associates, Neilsen Construction Co. is the general contractor and Grubb & Ellis Commercial Brokerage Group is the leasing agent.
New Park Slated
Greenwald/McDonald has purchased a 9.42-acre site between Dairy Mart Road and San Ysidro Boulevard, San Ysidro, from LPI Corp. for $2,462,000 and has broken ground for the $9-million International Business Park.
The seven-building park will include 160,000 square feet of incubator, light manufacturing and distribution space in structures ranging from 9,600 to 38,000 square feet. HCH & Associates is the architect and Neilsen Construction Co. the builder. In the land transaction, Coldwell Banker Commercial Real Estate Services represented the buyer and Iliff Thorn & Co. the seller.
