The Irvine-based company entered the arena at the end of 2007with the $115 million purchase of a 13-building office, flex andindustrial portfolio in Durham, NC's Imperial Center Business Park.It followed quickly with the $36 million acquisition of twodistribution properties in Memphis. Company CIO Scott San Filipporeports a distribution center in Charleston, SC is in contract for$28 million.

The escalating cost of California and Arizona office and retailproperties prompted the shift, the Crown exec tells GlobeSt.com.Lower land and business costs, growing population and expansion atmajor East Coast ports drew the company to the Southeast, but thedetermination was made only after careful study.

"We looked at US as a whole, then individual parts and regionsto figure out which area had the greatest potential," he says."Many developers will find the deal, then underwrite the marketaround it. We approach the situation from the opposite direction.We underwrite the market, then go find the deal."