Western

PASADENA, CALIF. — Los Angeles-based IDS Real Estate Group has completed the $2.8 million renovation and restoration of 80 South Lake Avenue in Pasadena. The eight-story building offers 71,500 square feet of office space. The company restored and upgraded the building to Class A standards by renovating the exterior, the parking structure, building lobby, exterior landscaping, common areas and restrooms. Additionally, IDS rehabbed the interior corridors with architectural photographs collected from the Pasadena Museum of History. Several design firms worked on the project, including Los Angeles-based Wirt Design, Pasadena-based SKA Design and Culver City, Calif.-based LRM Landscape Architecture. Ontario, Calif.-based Jaska Building Systems served as general contractor. The building is currently 95 percent occupied by a variety of tenants such as Wells Fargo Bank, Starbucks Coffee and E-Z Delta.

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LANCASTER, CALIF. — Dennis Marciniak and Larry McEwan of DAUM Commercial Real Estate Services represented the seller, Larwin Investment Co., in the disposition of two industrial buildings located at Fox Field Business Park in Lancaster. Burbank, Calif.-based McLain Holdings Group has acquired a 14,659-square-foot industrial facility, which is located at 4516 Runway Dr., for $1.28 million. The company intends to use the property as a storage facility for its media archives. David Young and Chad Gahr of NAI Capital represented the buyer. Additionally, Pacoima, Calif.-based Me Gusta Mexican Food Specialists, a manufacturer of Mexican foods, purchased a 6,448-square-foot industrial property, which is located at 4528 Runway Dr., for $761,000. The company plans to use the facility to manufacture a variety of Mexican foods. Claudia Gil of Guido Gil and Associates represented the buyer in the transaction.

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SANTA FE SPRINGS, CALIF. — Ta Chen International, a Taiwan-based manufacturer/distributor of stainless specialty metal products, has signed a $6 million, 7-year lease for a 92,348-square-foot industrial property located in Santa Fe Springs. Located at 12825 Carmenita Rd., the property has easy access to 5 and 91 freeways. Cameron Driscoll and Luke McDaniel of Voit’s Anaheim, Calif., metro office represented the lessee; Clyde Stauff and Steve Calhoun of Colliers International represented the landlord, Santa Fe Springs-based Golden Springs Development Co., in the transaction.

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SAN DIEGO — The Corky McMillin Companies recently broke ground for the development of a 104,397-square-foot Class A office building, which is located within the 360-acre Liberty Station mixed-use project in San Diego. Located on Decatur Road in the Lincoln Station Office District, the three-story Building 902 will feature open floor plates, a two-story lobby and two third-floor balconies with panoramic bay and downtown views. Designed by KMA Architecture & Engineering, the property is expected to achieve LEED certification. Green elements utilized in the project include water efficient fixtures to reduce water usage by 30 percent, fossil filter inserts for storm water quality control, roof slope and finishes to reduce heat island effect, and locally sourced materials to reduce environmental effects of processing and transportation, Additionally, 10 percent of all construction materials will be from recycled sources. Completion is slated for summer 2009. BYCOR General Contractors is overseeing the construction of Building 902. Don Mitchell, Scott Kincaid and Jill Morton of CB Richard Ellis are the exclusive leasing agents for the building.

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WILDOMAR, CALIF. — San Clemente, Calif.-based Consolidated Contracting Services Inc. is constructing a 95,000-square-foot facility for Southern California Edison. Located on a 17-acre site in Wildomar, the project will feature a 64,000-square-foot administration building and a 13,000-square-foot garage building with a designated truck repair and wash rack area. Additionally, the project will offer six overhead steel canopies totaling 60,000 square feet of parking and storage space. Other site improvements include a parking lot, site walls, hardscape and artistic landscaping. Designed by Richard Yen & Associates, the project is seeking LEED Gold certification. Green elements include photovoltaic panels on the rooftop of the truck-parking canopy to lower electricity costs. Green Building Services is serving as a green consultant for the project; Hope Engineering is providing structural engineering services; C&C Engineering Inc. is serving as civic engineer; Walsh Engineers is providing electrical and mechanical engineering services; and Sweeny and Associates is serving as landscape architect. Completion is slated for February 2009.

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CHULA VISTA, CALIF. — GE Real Estate has provided a $55 million loan to Sudberry Properties Inc. for the refinancing of Village Walk at EastLake in Chula Vista. The 156,552-square-foot open-air retail center is anchored by Henry’s Marketplace, Borders Books & Music, Petco, Pier 1 Imports and Trader Joe’s. The 3-year, fixed-rate loan is the first transaction between GE Real Estate and the San Diego-based developer and manager of retail shopping centers and urban mixed-use communities.

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LAS VEGAS — Capovilla Management has developed MacFarlane Medical Office Building in Las Vegas. Located at 8352 W. Warm Springs Rd., the three-story, 42,000-square-foot facility features covered parking and lush landscaping. Construction costs for the project were approximately $6.3 million. SR Construction provided design/build services for the project, and Moser Architecture Studio provided architectural services.

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LOS ANGELES — Behringer Harvard of Dallas has completed the $25 million transformation of a 19-story hotel into the four-star Hotel Palomar Westwood in Los Angeles. Located at 10740 Wilshire Blvd., the newly renovated hotel features 264 guest rooms with black and red lacquer furnishings, faux snakeskin dresser tops, snakeskin-patterned carpet and 42-inch flat-screen televisions; ultra-modern bathroom designs; a restaurant; a lobby; and a swimming pool. Gensler designed the hotel, while Beverly Hills, Calif.-based Cheryl Rowley Designs provided interior decorating services. R.D. Olson Construction served as general contractor of the project. San Francisco-based Kimpton Hotels operates the hotel.

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What area is your expertise? Sacramento region What trends do you see presently in office development in your area? Overall construction has slowed compared to the past few years. However, there are still a number of new office projects in the pipeline, which will deliver almost 2.4 million square feet within the next 18 months. Spec development has given way to build-to-suits and pre-leasing, which will benefit vacancy rates in the current market. Who are the active office developers in your area? Jackson Properties, Panattoni Development Co., Evergreen, Harsch, and Opus West are active in our area. Please name one or two significant office developments in your area. What impact will these projects have on the market? Two high-rise, Class A buildings are under construction on Capitol Mall, delivering nearly 800,000 square feet of new office space combined. 621 Capitol Mall, aka U.S. Bank Tower, will deliver 366,000 square feet/25-stories late 2008, on behalf of David Taylor Interests. 500 Capitol Mall, owned by Tsakopoulos Investments, will provide 430,000 square feet of office space to tenants by fall 2009. While this is a significant amount of space in a short time frame, the strength of the Downtown market should be able …

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