Huge Developments Coming To The OC
Some big office projects are headed to the OC. Attendees were able to hear about some of them at Bisnow's Annual Orange County Evolution of Office event held at Radius in Tustin this month.
Lincoln Property Co EVP Kevin Hayes, Equity Office regional director Rich McEvoy, McCarthy Cook & Co VP Michael Coppin and CapRock Partners president Jonathan Pharris talked about new office projects in the OC with CBRE senior managing director Kurt Strasmann, who moderated.
Kurt asked the panelists to offer more details about their developments and said the modern office is here to stay.
Kevin gave a presentation about FLIGHT at Tustin Legacy (at the intersection of Barranca Parkway and Armstrong Avenue), an 870k SF mixed-use campus on 38.74 acres, being developed by Lincoln Property Co along with Alcion Ventures.
Kevin said it will be the first ground-up creative office development in the area and the first office project at Tustin Legacy.
He also gave an overview of AXIS in Anaheim (2390 E Orangewood Ave). It features five buildings with amenities, including green space, a fitness center, a craft restaurant and brewery, and bocce ball. The site allows tenants to create a "branded campus" for up to 160k SF.
Nearby FLIGHT, Rich's company is developing the Von Karman Corporate Center, a 24-acre campus in Irvine with nine buildings.
The more than 1M SF site will include on-site conference facilities, outdoor sports, a gym and a café, among other amenities, according to Rich. He expects it to be completed around Q1 2017.
His company has access to a large set of data showing "people are using smaller amounts of space with more people" and there's a need "to satisfy the Millennial workforce" that is coming, Rich said.
The event was held at Radius (14191 Myford Ave), a 110k SF former manufacturing facility that has been transformed into creative office space by Jonathan's company, CapRock Partners.
The property features outdoor amenities, including volleyball, bocce ball, fire pits, a dog area and a putting green.
He said there has been great interest from tenants that has exceeded expectations.
Michael said his company is excited about the Met, formerly known as MetroCenter at South Coast. The project is a "complete transformation," according to Michael.
There are three high-rises on the property, and there will be a focus on outdoor connectivity, including a central boardwalk, a cabana area and a food truck area, Michael said. About $25M is being spent on the project.
