Burnett Polygon, a Costa Mesa commercial real estate developer, said Monday it named a replacement for C. Lynn Burnett, who resigned as chief executive to focus on his private investments.
The company named H. Gordon MacKenzie, a 29-year real estate veteran, who was formerly president of Brookfield Development Properties. MacKenzie will take over in late August.
The company, renamed after the leadership change to Polygon Development LP, has grown rapidly. In less than two years, the company has acquired 77 acres of land in Orange County and planned construction of more than 3 million square feet of commercial and retail space, valued at more than $450 million.
Among the company's major projects are the Arena Corporate Centre, a hotel, office and retail complex totaling nearly 1 million square feet next to the Arrowhead Pond of Anaheim that is to begin construction later this year; and Town Centre, a hotel, retail and office building project in Laguna Woods that recently was approved by the City Council.
Burnett, who has been president of Burnett Polygon since forming the partnership in April 1998 with Washington-based Polygon Group of Cos., will return to Burnett Development Corp., a real estate company he has headed for nearly 25 years, and complete several residential projects in Palm Springs. Unable to sell assets for the price he wanted, Burnett felt he needed to devote more time to his projects, which left him with less time for Burnett Polygon, said Jason Grange, a company spokesman.