Assembly Task: 89 Parcels With 82 Ownerships
Governmental bodies that routinely resort to condemnation proceedings to obtain property for redevelopment projects might learn a thing or two from McCarter-Burke’s commercial brokers, T. Rex Thomas and Zachary Parker.
The two men from the firm’s northern Orange County office are putting together 89 parcels for a massive Koll Co. development adjacent to Anaheim Stadium.
Thomas and Parker have spent the last 2 1/2 years negotiating the sales transaction between 82 property owners and Dallas-based developer Lincoln Properties to create the triangular parcel south of Orangewood Avenue and west of State College Boulevard.
The first phase of the $20-million, 26-acre land transaction is in escrow with 50 residential parcels on 12.5 acres. The second phase, involving 39 parcels on 14 acres, is still in negotiations.
Koll plans to expand its operations from the Irvine/Newport Beach area into central Orange County with a $200-million Koll Center Orange office and hotel project. The first phase will include the construction of two 24-story office towers, restaurants and parking structures, while the second phase will have three additional high-rise office buildings, two more parking structures and a 15-story, 350-room hotel.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
