More development set for ex-Boeing land: demand is strong and space limited in West Orange County, says official of commercial real estate company.Aerospace may be resurging, but it can't eclipse the demand for prime commercial real estate. Boeing Co.'s excess land in Huntington Beach Huntington Beach, city (1990 pop. 181,519), Orange co., S Calif., on the Pacific coast, across from Santa Catalina Island, in an oil-producing area; inc. 1909. It manufactures aerospace vehicles, aircraft parts, optical instruments, and heat transfer equipment. has proven ripe for redevelopment, with companies quickly snatching up buildings that have risen there. Among recent takers: a golf club maker and a producer of sheet metal for building homes. Now longtime Surf City Surf City may refer to:
Brian Thomas Burke (born in Perth, 25 February 1947) was premier of Western Australia from 25 February 1983 until his resignation on 25 February 1988. In 1994, Burke was imprisoned for seven months after being convicted of rorting travel expenses. plans to add an additional 442,000 square feet of space to the mix. That's on top of finishing an 80,000-square-foot building for Morgan Sheet Metal Inc. this month. Burke said he's already got a taker tak·er n. One that takes or takes up something, such as a wager or purchase: There were no takers on the bets. taker Noun for a big chunk of the proposed space. An undisclosed company has leased a planned 185,000-square-foot building that should begin construction this month, he said. Initially, Burke said he planned to divide the building at 14520 Delta Lane into five pieces and lease them separately. The tenant is related to the construction industry and is relocating from elsewhere in the county, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bob Goodmanson, a broker for CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Group Inc., who is marketing Burke's buildings with partner Brian DeRevere. Goodmanson also declined to name the company because of a confidentiality pact. Burke heads Santa Ana-based Burke Real Estate Group, which has been active in Huntington Beach for decades. He took over management of the development company from his father. His main project these days is Astronautics astronautics: see space science. Astronautics Flash Gordon space-traveling hero. [Am. Comics and Cin.: Halliwell] From the Earth to the Moon Corporate Center, a 258,000-square-foot industrial and office park at Rancho Road and Astronautics Lane. It's next to the 185,000-square,foot building Burke leased on Delta Lane. The park should include five industrial buildings ranging from 18,000 to 62,000 square feet and one office building of 40,000 square feet. Sale prices for the space range from $130 to $170 per square foot, which is nearly comparable to popular South County areas such as the Irvine Spectrum, Mission Viejo Mission Vi·e·jo A community of southern California southeast of Irvine. It is mainly residential. Population: 96,300. and Aliso Viejo. Burke's buildings are larger than those that make up the hot market for small buildings for sale. Those buildings typically are 10,000 square feet or less. "Bigger users usually lease, but with interest rates so low, they are buying," Burke said. Timothy Joyce, a senior vice president with Grubb & Ellis Co., said Burke should have little trouble finding buyers--even at the top market prices he is charging. Demand is strong and space limited in west Orange County, Joyce said. Huntington Beach's industrial vacancy rate is 3 percent, which beats the county's 3.9 percent rate, itself one of the lowest in the nation, according to Voit Commercial Brokerage LP. West County's rate also is low at 3.6 percent. The office market is a little looser in Huntington Beach at 11 percent, vs. the county's 9 percent. Burke said he is in escrow on a 40,000-square-foot building and has a sale pending on a 54,000-square-foot one. He declined to name the buyers. His buildings are part of the much larger McDonnell Centre Business Park, which includes manufacturing, distribution and office space at the northern tip of Huntington Beach. The center is one of several big swaths of surplus land being redeveloped by Boeing in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, and the only one in Orange County. McDonnell Centre has attracted a mix of companies, from Japan's Sharp Corp. to Dynamic Cooking Systems Inc., part of New Zealand's Fisher & Paykel Appliance Holdings Ltd. Boeing has been developing its Huntington Beach land in phases for several years. The company's Boeing Realty Corp., which plans out surplus land and gets zoning for it before selling, is based in Irvine. The center is popular with companies for a variety of reasons, brokers said. Some owners live near the beach and want their companies close by. Some larger companies like the site's proximity to the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. (Interstate 405) and Garden Grove Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. (22) freeways. And some companies want to be in Orange County but close to the ports of Long Beach and Los Angeles. Other developers have been active in Surf City. Irvine's Centra Realty Corp. last year finished construction on a 130,000-square-foot headquarters and plant for Roger Cleveland Golf, a unit of France's Skis Rossignol SA. The maker of skis is being acquired by Quiksilver Inc., based a couple of blocks away in Huntington Beach. Mathew Padilla writes for the Orange County Business Journal  An editor has expressed concern that this article or section is .Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and . |
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