Wave of office projects coming to Santa Monica.

The first major speculative Westside office projects of the 1990s will soon break ground.

Two separate partnerships are buying parcels at The Arboretum mixed-use complex in Santa Monica, and once escrow closes, they both plan to quickly break ground on major "spec" projects.

Spec projects are those built without a major tenant commitment, and are undertaken only in very robust markets, under the premise that if it is built the tenants will come.

"Rents are going absolutely crazy on the Westside; there seems to be even more. vibrancy to the recovery this time around than during the previous uptick in the 1980s," said Tim Macker, president of Westmac Commercial Brokerage Co, in West L.A. "The media and entertainment sectors get all the headlines, but professional services and other businesses are also growing, and it's the supply of the highest-quality office space that has disappeared."

Responding to news of the two new projects, Jerry Snyder, developer of the long-stalled second phase of the Water Garden complex adjacent to The Arboretum property, said he's likewise expecting to break ground on that 660,000-square-foot spec office project in July or August.

The first of the new Arboretum projects to break ground will be a 132,000-square-foot complex to be developed by a joint venture of Brentwood-based Lowe Enterprises and Menlo Park, Calif.-based Spieker Properties Inc., a cash-rich real estate investment trust, according to sources familiar with the deal.

Executives at Lowe and Spieker declined to comment on their plans.

The project, called Arboretum Courtyard, is expected to be under way by late summer.

A few months later, a 192,000-square-foot, six-story speculative office project is slated to start rising on a nearby parcel at The Arboretum, confirmed veteran L.A. real estate executive Bill Hammerstein, who is involved in that project.

Hammerstein is with Arboretum Development Partners, which is helping project developer Pacifica Holdings of Colorado with the planning and approval processes.

Arboretum Development could ultimately remain involved as a partner in Pacifica's $45 million development, Hammerstein said. The project has been tentatively dubbed Arboretum Gateway.

Pacifica Holdings principal Steve Leonard said he hopes to have the Gateway project under way by early next year. But he also cautioned that while the Westside market is improving quickly, "you can't just build anywhere."

But one spot apparently ripe for building is The Arboretum, where, in addition to the new Ralphs market and two pending spec office projects, a 351-unit luxury apartment community is being developed by Lincoln Property Co.

While the Westside hasn't seen a major spec office development since before the recession, strong demand for commercial space has been reducing vacancies and increasing rental rates.

Much of the demand is coming from the creative fields - media, entertainment and related technology operations.

And they're clearly the target of the new developments at The Arboretum, which is located in a commercial district near the intersection of Colorado Avenue and Cloverfield Boulevard. That neighborhood has become home to many such tenants, including Metro-Goldwyn-Mayer Inc. and Sony Music.

Santa Monica architect David Hibbert, who designed the new Ralphs market, is working on both the Courtyard and Gateway projects.

Meanwhile, Snyder and his development team continue to pursue tenants and financing for the Water Garden's already-approved second phase.

"We'd like to be digging a hole (for the project) around July or August; there's tremendous interest in the project" from corporate and professional tenants. as well as from the creative fields, Snyder said, noting that he's confident he'll have construction financing secured by mid-summer.

He added that he has notified Santa Monica planning officials within the last two weeks that his team intends to apply for construction permits soon.