BREA, CA-Guthrie Development Co. of Costa Mesa plans to break ground next month on its 132,642-sf Guthrie Lambert Business Center. The project, which is slated for completion in June 2007, will occupy a development site where Guthrie will demolish existing property to make way for the new buildings.
The eight-building, mixed-use office and industrial project has already generated "a substantial amount of interest," according to Robert Guthrie, president of Guthrie Development Co. He cites the continued demand for small for-sale office and industrial buildings.
Guthrie Lambert Business Center will consist of 28 separate, for-sale units ranging from 2,900 sf to 6,800 sf. The project is located near the intersection of Lambert Road and Berry Street at 201 North Berry St.
Mitch Zehner, Louis Tomaselli and Mike Boomer of Voit Commercial Brokerage's Anaheim Metro office are the listing agents for the development, for which Guthrie has lined up $20.78 million in construction financing from Wrightwood Capital.
The Guthrie Lambert Business Center will join a growing list of Guthrie projects in Southern California. Among others, the developments include the company's Freeway Crossroads in Anaheim, its Guthrie Orange Business Center in Orange and its Los Nietos Business Center in Santa Fe Springs.
The Freeway Crossroads in Anaheim is a 22-building master-planned business park on seven acres at a site near Kramer Boulevard and La Palma Avenue, with frontage on the 91 Freeway. The company chose that because of strong demand for high-image industrial and office properties in North Orange County, according to Rob Guthrie.
In April, Guthrie broke ground on a project called Guthrie Orange Business Center, with buyers lined up for 74% of the 86,000 sf at the five-acre industrial project on the day it broke ground. At the Los Nietos Business Center, buyers bought all 14 buildings of the 91,000-sf project in one month. The buildings, which range from approximately 5,200 sf to 7,650 sf, sold for an aggregate total of $12.4 million.
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