X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Spieker Properties Inc., the big real estate investment trust based in Menlo Park, will apparently be satisfied with snapping up existing Southland commercial real estate projects over the next several months instead of building new ones.”We have lots of land parcels moving along in Southern California, and getting ready for permitting and entitlements, but really, for us activity is so strong in the Bay Area that most of our capital is being used on new development,” says John Davenport. Spieker’s regional president in Southern California.”It’s just incredible what’s going on up there,” says Davenport, adding that Spieker has almost $500 million worth of development activity going in San Francisco and Seattle. Here in Orange County, Davenport says that Spieker is moving forward with design and permitting plans for roughly two million sf of development in Mission Viejo, Irvine, Anaheim, Brea, and San Diego. But don’t expect foundations to be poured soon: “We’re just teeing it up right now,” he says. “We’re pushing the process along in the design and entitlement end of things, but we’re not building.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.