Business Park Slated for Site By Fairgrounds

A $100-million business park will be built, adjacent to the Los Angeles County Fairgrounds, on one of the largest remaining undeveloped land parcels in eastern San Gabriel Valley.

Construction will start in December on the $32-million first phase of the 100-acre Koll Business Center La Verne. Completion is set for late 1989.

The site is located on Puddingstone Drive and E Street, adjacent to both the fair grounds and Brackett Field Airport. The center is being developed by the Koll Co. of Los Angeles in a joint venture with Cal Fed Enterprises, a subsidiary of California Federal Savings.

This is the partner’s second joint venture in the San Gabriel Valley; the other is the Koll Business Center Irwindale.

The first phase of the La Verne center will consist of 250,000 square feet.

The total project will consist of 1.4 million square feet. The partners plan to build on about half the total acreage, with the remaining lots to be sold to other developers.

Included in the first phase are 12 single-tenant buildings ranging from 8,500 to 18,500 square feet in 16 buildings. Retail facilities and possibly a hotel will be developed along E Street. The La Verne Redevelopment Agency assisted with public improvement financing.

Carli Architecture, Glendale, has been named designer and Koll Construction Co. will be the general contractor. Grubb & Ellis was the broker and will handle sales and leasing.

Jeffrey A. Dritley, senior development manager for Koll, said the center could provide between 4,000 and 5,000 new jobs and John W. Quinn, development manager, said that the business park will benefit from the planned hotel and convention center.