The Source H20, a new 69,968 square meter office building, was unveiled on Waterworks Way and Sand Canyon Avenue in Irvine.
The two-building campus is 13.5 hectares with an atrium connecting the two wings.
Amenities include a conference / community center, sports field, games deck, bocce ball, concrete ping pong table, walking path and multi-purpose areas for outdoor meetings.
The campus was built by KPRS Construction Services and designed by architect Ware Malcomb in Irvine.
The leasing services are handled jointly by Kevin Turner and John Gallivan from Cushman & Wakefield with Mike Hartel and Nick Velasquez from Colliers International.
SVA completes domestic project
SVA Architects in Santa Ana have completed part of a major overhaul of the Rancho Cucamonga campus for the Inland Empire Health Plan.
The work included renovating an existing office building to add a center for learning and development as well as a large health and fitness center and additional office function.
According to SVA, the interior renovations of this three-story project spanned the first and second floors and included a new health and fitness center, lobby, bicycle storage room, office functions, refreshing lobbies, classrooms and meeting rooms, and 18,000 square feet of office space.
Outdoor facilities on an area of 121,000 square meters renovated the site with a new large entrance staircase that connects this new building with the existing campus and serves as an outdoor assembly area.
Showroom work completed
The construction work for a SEB Professional North America showroom in the company’s offices in Tustin has been completed.
Ware Malcomb of Irvine provided interior architecture and design services to the project.
SEB, a division of part of Groupe SEB, manufactures commercial grade coffee and espresso machines. The Tustin Showroom was designed to showcase its products, including the WMF, Schaerer and Curtis brands.
There is a demonstration and tasting bar in the exhibition room. Adjacent to the showroom is a research and development and training laboratory where employees develop and test the latest SEB products. The first floor also has amenities like a fitness center and a large break room.
The general contractor for the project was Coastal Pacific Construction, based in Irvine.
West Covina Deal
Newport Beach-based Waterford Property Co. has bought Marketplace at the Lakes in West Covina for $ 18.6 million.
The 95,628 square foot retail project spanning 7 acres is 80 percent inhabited by Michael’s craft shop and Jerome’s furniture.
Waterford acquired the center from the CIM Group.
According to Lee & Associates Orange, a 109,368-square-foot industrial building sold for $ 22,260,000.
The building at 12836 Alondra Blvd. is located in the Cerritos Industrial Park.
Jeff Gahagan of Lee & Associates represented the seller. Neither the seller nor the buyer has been identified.
The domestic project begins
CT Realty, based in Newport Beach, is developing the Agua Mansa Commerce Park, a 4.4 million square meter logistics project in the Inland Empire, in a joint venture with PGIM Real Estate.
The joint venture bought Crestmore Development’s Denver site for an undisclosed price. The 206 acre project is CT’s third project developed with PGIM Real Estate in recent years.
CT Realty said the fully eligible project in Jurupa Valley had gone through significant pre-development and siteworks would begin immediately. The company expects the first buildings to be completed by summer 2021.
Agua Mansa will have three buildings over 1 million square feet in a cross-dock design with a clearance of 40 feet and two buildings each approximately 200,000 square feet with 32 feet of open space for regional last mile distribution users.
CBRE represented the seller on the property sale, led by Darla Longo, Barbara Emmons Perrier and Dan De La Paz. CT Realty represented themselves.
Sold in San Diego
Newport Beach-based CapRock Partners has sold its Old Grove asset, an 85,824-square-foot industrial property in Scripps Ranch, San Diego. Conditions were not disclosed.
CapRock said it sold the Class A facility on 5.4 acres to an unidentified person.
The property is fully rented to Manscaped, who make products for the care of men.
Bryce Aberg of Cushman & Wakefield represented CapRock on the sale. Jim deRegt from Lee & Associates and Richard Schwartz from Colliers International represented the buyer.
Newport Beach-based IHP Capital Partners and contractor Intracorp have formed a joint venture partnership to build an urban infill community of 58 townhouses and four units in the Seattle market.
Work on the 1.5-acre site is ongoing and construction should begin in the final quarter of 2020, IHP said.
The 62 two- and three-story residences will be between 1,200 and 1,700 square feet and will be offered in five floor plans with two to three bedrooms.
IHP and Intracorp plan to offer the first new houses for sale in mid-2021.
Real estate transactions, leases and new projects, industry recruitments, new ventures and upcoming events are compiled from press releases from contributing author Karen Levin. Email articles and high resolution photos to business editor Samantha Gowen at [email protected] Please allow at least one week for publication. All elements are edited for clarity and length.