Irvine Co. Coins New Name for Industrial Property Unit

The Irvine Co., Orange County’s largest landowner, announced Tuesday a new name for its industrial properties division amid speculation that the firm is planning a public offering of its industrial properties through a real estate investment trust.

The division controls the Irvine Spectrum, a major business park, hotels and other business properties owned by the Irvine Co. The division will be named the Irvine Industrial and Business Properties Co.

Clarence Barker, formerly president of Irvine office division, will become president of the reorganized company.

Don McNutt, who currently oversees hotels, golf courses and other business properties, will become asset manager of the industrial portfolio in Industrial and Business Properties.

Bill Halford becomes vice president and general manager of the Irvine Office Co.

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Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at debora.vrana@latimes.com