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REAL ESTATE : Developers Announce Third Phase at Centerpointe La Palma Complex

Compiled by Michael Flagg, Times staff writer

Developers plan a seven-story office building, a three-story office building, restaurant, stores and a parking structure in the third phase of Centerpointe La Palma.

The developers say tenants have already leased about 404,000 square feet in the La Palma complex’s older buildings from the first two phases of construction, or about 90% of the space now available.

Major tenants in the office buildings are the Federal Home Loan Bank Board and Prudential Insurance. In the research and industrial buildings are Xerox and Northern Telecom.

The 42-acre, $80-million complex is a joint venture of a Mutual of New York Life Insurance Co. subsidiary and Birtcher, a big developer based in Laguna Niguel.

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