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Construction is about 50% completed at Summit Oaks, a $25million project that will be visible from Interstate 5, notes KevinMcKenzie, president of Parker Properties. The office development isdesigned to accommodate tenants ranging from small companies tomid-sized and large businesses.

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The Summit Oaks site is at the entrance to Valencia Gateway, amaster-planned development for business, technology and industrythat comprises more than 5,000 acres, 23 million sf, 1,430companies and 45,000 employees. The Parker Properties developmentsite for Summit Oaks is also at the entry of Newhall Ranch, amaster-planned community development project that will ultimatelyinclude 21,000 homes.

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The new office building will be situated on a parcel of nearly4.3 acres, with 28,000-sf floor plates, a ground-floor lobby, atwo-level parking structure, a two-story atrium and landscapingthroughout. The Summit Oaks site is adjacent to Courtyard byMarriott and Embassy Suites, close to retail, dining, entertainmentand recreation amenities including Valencia Town Center RegionalMall, Valencia Marketplace, Valencia Crossroads, four golf clubs,community parks and the Paseo Club tennis and swim facility.

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Parker has named Doug Marlow and David Solomon of CB RichardEllis as leasing agents for Summit Oaks. Marlow says that theproject is expected to attract local companies as well as LosAngeles-based users seeking a location that offers "a strong laborbase with more affordable housing options for its employees."Additionally, with a tight Los Angeles office market and climbingrents, many companies are considering relocations to suburban areaslike Valencia, Marlow says.

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Snyder Langston is the general contractor for Summit Oaks andWare & Malcomb is the architect. In addition to Summit Oaks,Parker's current efforts include the development of the five-phase,1.8-million-sf Summit Office Campus in Aliso Viejo.

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