News
Newport Pacific Goes Spec at Rancho Santa Fe
Newport Pacific's Patrick McNamara (flanked by Lee & Associates' Scott Danshaw and Steve Willmore) tell us the project represents the last parcel of development left for his Whispering Palms project—a 40-year undertaking. We told you about the groundbreaking earlier this week.
With a lack of available space, Newport Pacific sees no problem going spec at Palma de la Reina—both with office and retail space. The project at 5525 Cancha de Golf, at the entrance to Morgan Run Resort & Golf Club, will include 21k SF of Class-A office space and 10k SF of retail. Steve says within a three-mile radius of the project, retail vacancies alone are just a shade over 1%. “We have several LOIs out right now,” Steve says.
