The new building will be at 5130 Goldleaf Circle and will be designed by Nadel architects. The new structure will be the final phase of construction at Wateridge. It will join Crown's existing 330,000-sf Phase I and 200,000-sf Phase II, along with a 37,000-sf 24-Hour Fitness club that is under construction at the site. The second phase is 95% leased, Crown says, thanks to new leases of 100,000-sf with children's services provider Crystal Stairs and 28,000 with Country Villa Health Services. Crystal Stairs was represented by Michael J. Dunn of the Charles Dunn Co., along with Dunn's Reginald Woolfolk and John Anthony. Country Villa was represented by Jeff Pion of CB Richard Ellis.Crown was represented by Wateridge listing agents Jeff Pion and Deron White of CB Richard Ellis.

Formed in 1994, Crown Realty & Development is a partnership between the company's chairman, Jaime Sohacheski, and its president, Robert Flaxman. The two have been partners for nearly 20 years in acquiring and developing approximately 5 million sf of commercial space in Southern California. The firm's portfolio, valued at more than $450 million, includes office, retail and industrial holdings. Among its projects is the redevelopment and expansion under way at its 1.2 million-sf Media City Center shopping venue in Downtown Burbank.