Irvine, California, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Sares Regis Group is set to break ground for four corporate headquarters buildings totaling 390,000 square feet for lease on 20 acres at Douglas Park, next to Long Beach Airport in Long Beach, California. Scheduled for late 2018 completion, the buildings represent SRG’s last development and the build-out of the premier master-planned business park.
“In 2011 and 2012 when we bought the land – 194 acres, which is what remained of the 220 acres previously master-planned by Boeing Realty Corp. – we sought to work closely with city planners to create a top-flight business environment with hotel and meeting rooms, restaurants, shops and headquarters buildings. A steady economic recovery and strong demand for commercial space in the South Bay market helped us complete that vision,” said Larry Lukanish, Senior Vice President of SRG Commercial Development.
SRG’s new buildings at Carson Street and Worsham Avenue will range from 75,000 square feet to 135,000 square feet. Each building will include two-story executive office space, 3-percent skylights, secure concrete truck courts, dock-high and grade-level loading, LED lighting on sensors and 30- and 32-foot clear heights.
The project is adjacent to the 26-acre Long Beach Exchange, a dynamic, experiential retail and dining destination that includes The Hangar, a showcase for local purveyors of art, food, design and fashion in a 16,800-square-foot hangar. Major tenants of the 260,000-square-foot LBX include Whole Foods 365, Nordstrom Rack, TJ Maxx, Orchard Supply Hardware and PetSmart. SRG’s buildings also are steps from the just-completed 240-room Hampton Inn and Homewood Suites and recently renovated municipal Skylinks Golf Course.
Buildings in the 20-acre project are designed by DeRevere & Associates, the same architects that delivered SRG’s previous Douglas Park speculative projects. The first development, Pacific Pointe, a seven-building, 677,000-square-foot collection, sold out in one year and was judged best industrial project of 2015 by the Los Angeles Business Journal.
SRG is represented by CBRE brokers Brian DeRevere, John Schumacher and J.B. Green, who also are marketing the final 140,000-square-foot Class A headquarters building in SRG’s Pacific Pointe East.
Long Beach Airport has been transformed by Douglas Park’s 4.1 million square feet of new commercial space into a “dynamic business center that includes the largest collection of LEED-rated commercial buildings in Southern California,” Lukanish said.
SRG has built and renovated approximately 3 million square feet Class A industrial buildings at Douglas Park, including refitting two massive hangars used by Douglas Aircraft to build 15,000 B-17s and DC-3s during World War II. Totaling 1.1 million square feet, the hangars on 50 acres were leased for 15 years by Mercedes-Benz as its west coast hub.
Sares Regis Group is a privately held real estate development, investment and management firm focused on commercial properties and multifamily communities in the western U.S. Since its founding in 1993, SRG has developed and acquired more than $7 billion in commercial and residential assets. The company manages a combined portfolio of approximately 26 million square feet of office and industrial space and 19,500 residential apartment units.
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Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1e02b5e1-213d-4b1f-9437-5d361718aa49