$45.7 Million Paid for Irvine Industrial Site
Three developers have paid $45.7 million for 345 acres of land near Irvine Spectrum, which they will use to build an industrial park called Pacific Commercentre.
Los Alisos Development Co. in Irvine sold the acreage to a consortium called Pacific Commercentre Partners, whose members are two Newport Beach firms--SDC Development and Shaw/Nelson--along with PacTel Properties in Irvine.
The property is northeast of the Santa Ana Freeway on Bake Parkway east of Trabuco Road in an unincorporated area of Orange County and will undergo two years of improvements, including road construction.
Pacific Commercentre will develop or sell 94 lots. Los Alisos still holds 100 acres in the area and will build 24 lots in conjunction with Pacific.
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