The Source H20, a new 69,968-square-foot office building, has debuted at Waterworks Way and Sand Canyon Avenue in Irvine.
The two-building campus sits on 13.5 acres with an atrium connecting the two wings.
Amenities include a conference/community center, sport court, game terrace, bocce ball, concrete ping-pong table, walking path and multipurpose areas for outdoor meetings.
The campus was built by KPRS Construction Services and designed by architect Ware Malcomb in Irvine.
Leasing services will be handled jointly by Kevin Turner and John Gallivan of Cushman & Wakefield with Mike Hartel and Nick Velasquez of Colliers International.
SVA wraps up Inland project
SVA Architects in Santa Ana has completed its part of an extensive makeover 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 ancillary office function.
SVA said interior renovations of this three-story project involved the first and second stories and encompassed a new health and fitness center, lobby, bike storage, office functions, refreshing lobbies, classrooms and assembly rooms, and 18,000 square feet of office space.
Exterior site work of 121,000 square feet renovated the grounds to with a new grand entrance staircase that connects this new building to the existing campus and acts as an outdoor assembly area.
Showroom work complete
Construction is complete on the addition of a SEB Professional North America showroom within the company’s offices in Tustin.
Irvine-based Ware Malcomb provided interior architecture and design services for the project.
SEB, a division of part of Groupe SEB, makes commercial-grade coffee and espresso machines. The Tustin showroom was designed to showcase its products, including the WMF, Schaerer and Curtis brands.
The showroom floor includes a demonstration and tasting bar. Adjacent to the showroom is an R&D and training lab where employees develop and test SEB’s latest products. The first floor also includes amenities such as a fitness center and large breakroom.
The general contractor for the project was Irvine-based Coastal Pacific Construction.
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 on 7 acres is 80 percent occupied by Michael’s craft store and Jerome’s Furniture.
Waterford acquired the center from CIM Group.
Cerritos deal
A 109,368-square-foot industrial building has sold for $22,260,000, according to Lee & Associates Orange.
The building at 12836 Alondra Blvd. is in the Cerritos Industrial Park.
Jeff Gahagan at Lee & Associates represented the seller. Neither the seller nor the buyer were identified.
Inland project begins
Newport Beach-based CT Realty, in a joint venture with PGIM Real Estate, is developing Agua Mansa Commerce Park, a 4.4 million-square-foot logistics project in the Inland Empire.
The joint venture bought the site from Denver-based Crestmore Development for an undisclosed price. The 206-acre project is CT’s third project to be developed with PGIM Real Estate in recent years.
CT Realty said the fully entitled project in Jurupa Valley has undergone significant predevelopment and sitework will begin immediately. The firm expects shell completion on the first buildings by summer 2021.
Agua Mansa will have three buildings over 1 million square feet in a cross-dock design with 40-foot clear height, plus two buildings with approximately 200,000 square feet each and 32-foot clearance designed for regional last-mile distribution users.
CBRE represented the seller in the land sale, led by Darla Longo, Barbara Emmons Perrier and Dan De La Paz. CT Realty represented itself.
Sold in San Diego
Newport Beach-based CapRock Partners has sold its Old Grove asset, an 85,824-square-foot industrial property in the Scripps Ranch area of San Diego. Terms were not disclosed.
CapRock said it sold the Class A facility on a 5.4-acre site to an unidentified individual.
The property is fully leased by Manscaped, which creates products for men’s grooming needs.
Bryce Aberg of Cushman & Wakefield represented CapRock in the sale. Jim deRegt of Lee & Associates and Richard Schwartz of Colliers International represented the buyer.
Seattle project
Newport Beach-based IHP Capital Partners and homebuilder Intracorp have formed a joint venture partnership to develop an urban infill community of 58 townhouses and four live-work units in the Seattle market.
Work is underway on the 1.5-acre site and construction should begin in 2020’s final quarter, IHP said.
The 62 two- and three-story residences will range from approximately 1,200 to 1,700 square feet and will be offered in five floorplans featuring two to three bedrooms.
IHP and Intracorp plan to offer the first new homes for purchase in mid 2021.
Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at [email protected]. Please allow at least a week for publication. All items are subject to editing for clarity and length.
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