Dave Pittman, a principal at Newport Beach-based AcaciaProperties, expects construction of the three buildings, which willrange from 20,000 to 27,000 sf—to begin this week. The buildingswill be available for sale at $205 per sf or for lease at $1.65triple-net, Pittman says.


"We've closed escrow [on the land purchase] and we've alreadyhad interested parties wanting to purchase one of our buildings,"Pittman tells GlobeSt.com. The complex will front Bake Parkway andwill be visible from the Foothill Transportation Corridor.


Pittman says Acacia Capital also recently completed constructionof a 43,566-sf flex-tech building at Alton Parkway and Hughes inthe Irvine Spectrum and is already in "serious negotiations" with aprospective tenant who wants the entire building.


"We're looking for other opportunities to do some more projectsin Orange County," says Pittman, a former partner of LosAngeles-based Zelman Development. "We're totally focused on OrangeCounty. We think it's still a strong market and there's still someopportunities to pursue, especially in north Orange County in theindustrial sector."

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