Home Builder Warmington in New Venture

Jim Warmington, president of the family owned Warmington Homes Co. since 1975, has joined with Barry Hoeven, most recently involved with building business parks with Public Storage Inc., and Jon Pelmear, formerly a real estate broker with Daum Corp., to form Westport Properties to develop commercial real estate projects.

The new firm has established offices at 3090 Pullman St., Costa Mesa and is currently researching sites in several states for the development of three to five commercial projects valued at about $25 million. (Warmington Homes is reporting a sales volume for 1985 of nearly $120 million, and the company plans to build and sell houses in 28 locations throughout California during 1986.)

Westport Properties will initially concentrate on building small-user, multi-tenant business parks with buildings divisible to 1,500 square feet, self-storage warehouse facilities and automobile service centers. The company also plans to explore the possibility of developing projects on a joint-venture basis with lending institutions.