Quaranta has paid $2 million for the parcel, which is located on lot 560 in the second phase of Irvine Spectrum Five. He plans to build a 33,216-sf facility here, which will serve as the corporate headquarters for his company, R&B Gear, a manufacturer of promotional recreational items. Quaranta plans to break ground on the project later this month. Slated for completion in October 2002, the facility will rise at the intersection of Tesla and Goddard, just north of Irvine Center Drive and Lake Forest Drive.
Dick Silva of the Newport Beach office of Lee & Associates acted on behalf of Quaranta in the sale transaction. Stan Mullin and Jim Cunningham of the Newport Beach office of Grubb & Ellis Co. spoke on behalf of the seller, the Irvine Community Development Co. of Newport Beach.
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