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HOMEBASE INC. SIGNS LEASE FOR NEW CORPORATE HOME BASE

 FULLERTON, Calif., May 25 /PRNewswire/ -- Fullerton-based HomeBase, one of the nation's leading home improvement and building supply warehouse chains, has signed a 10-year-plus lease for a new corporate headquarters at the Park Place office complex in Irvine, Calif., announced Bill Patterson, president of the 88-warehouse company.
 "As we've enlarged our corporate team in order to support HomeBase's rapid chain-wide expansion, we have outgrown our current space," explained Patterson. "And, although we considered a number of options, our commitment to Orange County was a priority."
 The company will occupy approximately 150,000-square-feet of space, including 53,000-square-feet of direct space from Irvine-based Winthrop Management and 97,000-square-feet of sublease space from Denny's. HomeBase's current headquarters in Fullerton, which the company has occupied since 1985, encompasses 90,000 square feet.
 HomeBase was represented in the real estate transaction by Robin Leamy of Newport Beach, Calif.-based Langdon Rieder. Tom Becket of San Francisco-based law firm Pillsbury Madison & Sutro represented HomeBase in lease negotiations.
 Currently operating 88 home improvement warehouses in 13 western and midwestern states, HomeBase employs approximately 475 team members at its corporate headquarters. The $1.6 billion company was founded in 1983 and is a division of Natick, Mass.-based Waban Inc. (NYSE: WBN).
 -0- 5/25/93
 /CONTACT: Carol Elfstrom of HomeBase, 714-441-0171, ext. 519/
 (WBN)


CO: HomeBase Inc.; Waban Inc. ST: California IN: REA SU:

BP-JL -- LA009 -- 2106 05/25/93 11:03 EDT
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Publication:PR Newswire
Date:May 25, 1993
Words:236
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