In Lake Forest, developers of Enterprise Business Park secured $3.5 million for an 81,485-sf development. The Santa Ana project is PRES Corporate Center, whose developers obtained $5.5 million in equity from Pacific Coast. As reported recently on GlobeSt.com, PRES Corporate Center will be 301,662 sf of light industrial and corporate headquarters space. The two Orange County developments are among three recently funded with equity from Pacific Coast, which says it committed $20 million in equity financing for the three master-planned business parks. The third development is called Oceanside Gateway, a 533,000-sf project in Oceanside. (For further details, see the San Diego page of www.GlobeSt.com ).

The three projects will have a combined value estimated at $93 million when they are completed. Enterprise Business Park is a joint venture between Pacific Coast Capital Partners and the Gale Co. of Irvine. It will be situated between Dimension and Bake Parkway in Lake Forest, within the 48-acre Pacific Commercentre business park. The Enterprise development will consist of 27 small industrial and office buildings totaling 81,485 sf, ranging from 1,960 to 5,180 sf. The project value upon completion in mid-2004 is estimated at $15 million. The buildings will be available for sale and will be marketed to owner/operators of small service businesses.

The 301,662-sf PRES Corporate Center, to be located at the corner of St. Andrews Place and Lyon Street Santa Ana, is a joint venture of Pacific Coast and Professional Real Estate Services of Newport Beach.